Jan 9 2010

1.41 Million Americans Filed for Personal Bankruptcies in 2009 a jump of 32 Percent from 2008. More and More Average Americans Resorting to Bankruptcy even with Tougher Rules to File.

The employment report out on Friday just goes to show that the American economy is still struggling to create jobs for average Americans.  In fact 85,000 more jobs were lost in December but that isn’t the biggest data point out of the report.  The civilian labor force shrunk by a stunning 661,000 and that is […]

Dec 5 2009

Bankruptcy Filings up 100 Percent from 2007: Americans Financially Unable to Meet Current Debt Payments. 85 Percent of Chapter 7 Filings are Classified as No-Assets.

The U.S. Courts released data last week closing out the 2009 fiscal year.  In the release we find that bankruptcy filings are up 100+ percent from 2007.  No other economic vehicle shows deeper signs of financial strain than bankruptcy.  Bankruptcy is the end of the road for many Americans.  Although businesses file for bankruptcy as […]

Nov 2 2009

Bankruptcy Filings to Match Divorce Filings in 2009: 1.5 Million. 35.8 Million Americans on Food Stamps – 11 Percent of the Population. The 5 Indicators of the Misery Index.

It is a sobering fact that in 2009, there will be as many people filing for bankruptcy as those filing for a divorce.  We are on track to seeing an average of nearly 5,900 bankruptcy filings a day for 2009.  While some people use the stock market as their barometer of economic recovery, there are […]

Oct 8 2009

Bankruptcy Filings Spiking: Chapter 7 Booming and 8 Years of Credit Card Industry Lobbying and $100 Million in Fees.

There is probably no bigger sign of economic distress than bankruptcy.  It can be in the form of a business unable to pay debt obligations or an individual simply unable to keep up with former obligations.  Most people that file for bankruptcy are not in a good economic spot.  In fact, if you want a […]

Jul 16 2009

Bankruptcy Filings up 33 Percent over a 12-month Period: Total 12-month Total of Bankruptcy Filings 1.2 Million. In last Report, Filings up 27 Percent in one month.

Bankruptcy filings are soaring in the United States.  In the last data point, we had 134,282 bankruptcy filings for the month of March 2009.  Bankruptcy data usually lags 3 or 4 months but the trend is ominous.  For the last 12 months some 1.2 million bankruptcy filings have occurred.  Much of this is linked to […]

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