The CEO of JP Morgan has recently stated that municipality bankruptcies (cities filing bankrutpcy) are on a rise. This is yet another effect of the recession – with income on the decline and foreclosures on the rise, cities are losing precious tax revenue and having to cut necessary services. Analysts are looking to these cities […]
Interesting 2010 Bankruptcy Statistics
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, […]