Bankruptcy Filings Rise 20 Percent in June
Bankruptcy filings rose 20 percent in the 12-month period ending June 30, 2010, according to statistics released today by the Administrative Office of the U.S. Courts. A total of 1,572,597 bankruptcy cases were filed in federal courts in that period, compared to 1,306,315 bankruptcy cases filed in the 12-month period ending June 30, 2009. This is the highest number of bankruptcy filings for any period since many of the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 took effect.
Source: http://www.loansafe.org/bankruptcy-filings-rise-20-percent-in-june
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These figures are amazing. Credit card companies have run rampant with their usury rates and Machiavellian marketing. Now it’s biting them in the ankle.
Kate Costello
October 18, 2010