Here are some interesting 2010 bankruptcy statistics:

1) In 2010, American families owed a total of $866 billion in consumer debt,

2) In 2010, $1.3 trillion of U.S. consumer debt was delinquent, with $986 billion being seriously delinquent – 90 days late or more,

3) Personal bankruptcies have increased 100% over the last five years,

4) The average family has at least $10,000 in credit card debt, at an interest rate of 25%. At that rate it would take about 22 years to pay the debt off.