More than 200,000 American families will use their tax refunds to cover the modest legal and filing fees associated with personal bankruptcy, according to figures compiled by the National Bureau of Economic Research.
This study merely confirms a suspicion that bankruptcy experts have long held about the proliferation of bankruptcy filings immediately after consumers receive their [...]

The recent economic recession had such a profound impact on the American economy that it even forced several financial planners into unexpected bankruptcy.
According to a recent report from Financial Advisor magazine, the number of financial planners forced into bankruptcy protection grew significantly from 2010 to 2011, and may continue to grow.
The financial struggles of financial [...]

While bankruptcy filings have seen a slight dip during the fall of 2011, compared with same time period last year, reports indicate that overall poverty is on the rise, which suggests that the number of people filing bankruptcy could rise again.
According to a recent report from the Digital Journal, a recent 12-month period saw 1,467,221 [...]

One of the most common causes of bankruptcy for individual Americans is medical debt. As healthcare costs continue to inflate, more people are seeking relief for their medical bills in federal bankruptcy courts.
Because of these trends, it is no surprise that cancer patients, who often accrue tens of thousands of dollars in medical debt during [...]

In the days of yore, filing bankruptcy may have carried a bit of stigma, as financial troubles were often seen as a direct result of some personal failure. This notion, however, no longer applies in today’s complex financial world.
Today, financial troubles are more often due to predatory lenders, financial emergencies, and other events that are [...]

While personal bankruptcy filings topped a record number of 1.5 million last year, experts predicted that this number would start to drop in 2011. Their prediction proved correct.
The number of bankruptcies this September dropped by 17 percent compared to the same month last year, according to a report in the Wall Street Journal.
Of course, while [...]

Downsizing definitely comes in all shapes and sizes. When people go bankrupt, they often lose everything not protected by state bankruptcy exemptions. Those with self-storage units may lose anything and everything in storage. Check out the bizarre and lucrative finds!

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The Bureau of Economic Analysis released its latest consumer spending figures last week and the numbers surprised some economists. As it turns out, Americans spent less and saved more money in June than analysts expected. Specifically:

Both personal income and disposable income increased by 0.1 percent
Personal expenditures decreased by 0.1 percent
In May (the second-most-recent month for [...]

A recent study conducted by researchers from the Fred Hutchinson Cancer Research Center found a troubling link between illness and debt: people diagnosed with cancer, it seems, are more likely to file personal bankruptcy.
Here’s a closer look at the study, conducted in western Washington state, and what it found:

Almost 232,000 adults with cancer were studied [...]

For a nation consumed by bankruptcy, this information will not be as shocking as it would have been for previous generations. Isn’t that fact, itself, reason to be worried? From the state with a 19% increase in bankruptcy filings (especially chapter 13 bankruptcy), to the surprising dip in credit card debt, learn all you want [...]

As the old saying goes the bigger they are the harder they fall. Recent economic events have proven this idiom true. Some of the largest companies in the world, like Worldcom, were over $100,000,000,000 in debt when they went under. We have decided to take a look at some of the biggest corporations that filed [...]

A new study conducted by the University of Michigan Law School indicates that more than two-thirds of Americans 65 and older who turn to bankruptcy protection for financial relief cite overwhelming credit card debt as one of their primary reasons for filing.
This is a troubling statistic, particularly if you or your parents fall into the [...]

A study published in the American Bankruptcy Institute Law Review found that the cost of filing for personal bankruptcy has gone up since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, as discussed in a recent article in the Wall Street Journal.
Here’s a look at some highlights from the [...]

New numbers from the American Bankruptcy Institute indicate that personal bankruptcy filings for 2010 have reached their highest level since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
Here’s a look at how many of us have turned to bankruptcy protection and why that number is important.
Yearly Filings Expected to [...]

Debt collectors are in the middle of a boom in their business, as debt rises and unemployment rates continue to stay elevated.
Now, there are reports that these busy debt collectors are getting dirty, according to CNNMoney.
In 2009, complaints of harassment from debt collectors rose by 50 percent from the year before. The Federal Trade Commission [...]

While professional basketball players make millions of dollars during their careers, they are not immune to financial troubles. In fact, NBA players tend to file for bankruptcy at an alarmingly high rate.
According to Sports Illustrated, 60 percent of professional basketball players file for bankruptcy within five years of leaving the league. Some recent players’ financial [...]

Across the country, one symptom of the recession is the high rate of bankruptcy filings.
A recent report indicates that the national bankruptcy rate rose 33 percent in the third quarter of 2009, as compared to the same time period last year.
This spike in rates represents the highest rate of bankruptcy filings since 2005.
A CNN Money [...]

Personal bankruptcy filings in October reached the highest levels since the BAPCPA law change four years ago, according to Bloomberg.
Approximately 131,200 Americans filed bankruptcy last month, up 25% from October, 2008, and the highest since the new bankruptcy law took effect in October, 2005.
High unemployment, plummeting home values and tight credit are all contributing to [...]

Recent numbers reported by the American Bankruptcy Institute show that personal bankruptcy filings for September 2009 increased 41% from September of last year and four percent from August 2009.
Flings totaled 124,790 last month, bringing the total for 2009 up to 1,046,449. These numbers are significant – September was apparently the fourth-highest month since BAPCPA took [...]

While the state you live in may not directly determine whether or not you will file bankruptcy, it may increase the odds of you knowing someone who will. Whether due to unemployment levels, the bankruptcy means test, or just plain luck, some states have higher rates of personal bankruptcy.
Based on data supplied by Bankruptcy-Statistics.com on [...]