Just as any prominent Wauwatosa bankruptcy attorney can tell you, there are lots of reasons why people decide to file for person bankruptcy. Each Wauwatosa bankruptcy attorney has likely seen every type of bankruptcy case at some point in time during a lengthy legal career. Some people seek personal bankruptcy protection because their actions lead them to that end while others are forced down that road. A Wauwatosa bankruptcy attorney has likely had clients file for bankruptcy as a result of a divorce, untimely death, losing their home or job and probably the most commonly perceived notion of mishandling their finances. Common misconceptions or stereotypes are that most people who file for bankruptcy dug their own hole or made their own bed so they should lay in it, but what about the people who may have been the victims of identity theft? Every 79 seconds a thief steals someone's identity. Identity theft impacts millions of Americans, some so severely that they are forced into filing for bankruptcy. Imagine if you were scammed out of your entire life savings and to top it all off, you did not even have the foundation of your name and good credit history to fall back on. What would you do? How long would it be before you seriously contemplated filing for bankruptcy? Sometimes people just get backed into corners and they think that it is impossible to get out that corner without the assistance of bankruptcy. With the current condition of the rough economy many companies are unable to cope and are closing their doors for operation indefinitely. Subsequently dedicated workers are being laid off. This is completely outside of the realm of their control. They may be able to keep their head afloat temporarily but if another decent job does not come along soon then bankruptcy may end up being the only viable option.