Shopping Addiction A Major Cause of Bankruptcy according to bankruptcy attorney Michael Primus. Approximately 2 to 5 percent of Americans suffer from a compulsion commonly referred to as Shopping Addiction according to an article written by Kimberly Palmer published May 16, 2012, by U.S. News and World Reports. People who compulsively shop often lie about their purchases even to family and friends and have trouble controlling their spending. As with most addictions, Shopping creates a sense of relief or joy in the addict. Uncontrolled shopping wreaks havoc on bank accounts and contributes to many bankruptcy filings. For more information, see the attached link.
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