Bankruptcy Lawyer Chespeake The Alliance Legal Group, PLLC
www.Call54Legal.com
(757) 482-5705
Interesting Bankruptcy Statistics you need to know!
• Personal bankruptcy filings peaked in 2005, were high during the Great Recession, and have been decreasing since 2010.
• Chapter 7 bankruptcies are consistently the most common, although they've gone down since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005.
• Most debtors file bankruptcy because they're overextended on credit, they've suffered a reduction of income, and/or they've incurred unexpected expenses.
• Alabama had the highest bankruptcy filing rate in 2018, and Southern states average higher bankruptcy filing rates than the rest of the country.
• Debtors who have completed high school or some college account for over half of all bankruptcy filings.
• Bankruptcy is more common among lower-income debtors, especially those who make $30,000 or less per year.
• While there aren't any races with particularly high bankruptcy rates, African Americans are more likely to file Chapter 13 bankruptcy and less likely to successfully discharge their debts through bankruptcy.
Bankruptcy Lawyer Chespeake
The Alliance Legal Group, PLLC
www.Call54Legal.com
(757) 482-5705
0 Yorumlar