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The No. 1 cause of bankruptcies is medical bills.

Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors.

Bankruptcy is a serious decision that people have to make.

Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.

Most women file for bankruptcy in the aftermath of a serious medical problem, a job loss, or a family break up. It is hard to protect against those.

Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.

Have you noticed the debt is exploding? And it's not all because of Medicare.

By the time most people file for bankruptcy, their credit is already trashed, they have a high debt-to-income ratio - a key indicator lenders look at - and they've likely defaulted on more than a few accounts.

Five thousand people every day lose their home because of a medical bankruptcy. Most of them had insurance.

People aren't going to go bankrupt anymore if they have a serious illness, which was a serious issue here in the country before the Affordable Care Act. And, in fact, the expense of expanding health care for those who need the subsidy is picked up by the federal government for most of the early years.