Consumer Bankruptcies Hit the 1 Million Mark

To put yet another number on just how poor the economy has been, consumer bankruptcies exceeded 1 million during the first nine months of this year.

That is the first time that the 1 million mark has been topped since the bankruptcy laws of the United States were overhauled in 2005. These numbers were reported by the American Bankruptcy Institute.

To be precise, there were 1,046,449 filings in the first 9 months of 2009. It is the highest total since 2005 when there were over 1.3 million bankruptcy filings over the course of the first 9 months.

Credit Card Protection Provision May Be Moved Up

Related Information:

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  3. Consumer Debt Continues to Decline The amount of credit card debt that Americans currently hold has fallen a remarkable $86.2 billion from its peak of $975.2 billion in September 2008. That’s nearly a 10% decline…
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