A recent posting on the bankruptcy blog Credit Slips asks this intriguing question: why, when delinquent consumer debts are at historical highs, are we not seeing more personal bankruptcy filings? To contextualize this question a little, here’s some background:
In 2005, a new bankruptcy law (the Bankruptcy Abuse Prevention and Consumer Protection Act, or BAPCPA) took [...]
More »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 [...]
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 [...]
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