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Thread: Sharp Increase in March in Personal Bankruptcies

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    Sharp Increase in March in Personal Bankruptcies

    Steep Increase in Personal Bankruptcies in March - NYTimes.com

    Federal courts reported over 158,000 bankruptcy filings in March, or 6,900 a day, a rise of 35 percent from February, according to a report to be released on Friday by Automated Access to Court Electronic Records, a data collection company known as Aacer. Filings were up 19 percent over March 2009. The previous record over the last five years was 133,000 in October.
    Professor Porter said, March is the high season for bankruptcy filings because many people in financial distress get a tax refund check that they can use to pay the $1,500 to $3,500 that a bankruptcy lawyer charges.

    “People use their tax refunds to pay their attorney fees,” she said.

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    re: Sharp Increase in March in Personal Bankruptcies

    Let's see, 162,000 new jobs create and bankruptcies are up.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    re: Sharp Increase in March in Personal Bankruptcies

    Quote Originally Posted by American View Post
    Let's see, 162,000 new jobs create and bankruptcies are up.
    There's no reason both can't be happening.

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    re: Sharp Increase in March in Personal Bankruptcies

    Quote Originally Posted by American View Post
    Let's see, 162,000 new jobs create and bankruptcies are up.
    People seriously pay for it with their tax refunds, it's to be expected this time of year.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    re: Sharp Increase in March in Personal Bankruptcies

    Quote Originally Posted by megaprogman View Post
    There's no reason both can't be happening.
    Don't businesses filing bankruptcy usually layoff people?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    re: Sharp Increase in March in Personal Bankruptcies

    Quote Originally Posted by American View Post
    Don't businesses filing bankruptcy usually layoff people?
    The article title is Sharp Increase in March in Personal Bankruptcies

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