Annual Bankruptcy Filings Double Since 1981: The...
From Times Staff and Wire Reports
Annual Bankruptcy Filings Double Since 1981: The number of bankruptcies filed in U.S. courts each year has more than doubled since 1981, with most cases now filed by consumers, the American Bankruptcy Institute said. Bankruptcies rose to 782,962 last year from 360,329 in 1981, the ABI said. And filings are expected to jump to 810,000 this year and 890,000 next year as recession and problems in the banking industry take their toll, the ABI said.
