Many NBA players file for bankruptcy within five years of their professional career ending. What is the cause of this phenomena? Taxes? Fraud? You would be surprised to know that none of those are the primary reasons. Instead, the cause is poor planning and foresight on the part of the players. Players should have spoken to bankruptcy lawyers to sort out their finances before, during, and after their professional career. Take these stories as a cautionary tale; if million-dollar basketball players can be affected by bankruptcy, anyone can. A Philadelphia Bankruptcy Lawyer from Alfred Abel Law Offices provides some tips to understand and avoid bankruptcy.