Personal Bankruptcy Filings Up 7.8 Percent as Trend Continues

[papau]

http://ap.tbo.com/ap/breaking/MGADJMJH0ND.html

Personal Bankruptcy Filings Up 7.8 Percent as Trend Continues
The Associated Press

WASHINGTON (AP) - The record-setting pace of new personal bankruptcies continued in the 12 months ending Sept. 30, with their number rising 7.8 percent, according to data released Friday.

Personal bankruptcies jumped to 1,625,813 from 1,508,578 during the same period a year earlier, Administrative Office of the U.S. Courts data show.

The upward trend had been expected to continue despite signs of recovery in the economy and as effects still linger from the consumer spending binge of the 1990s. The rate of bankruptcies generally lags other economic indicators. <snip>

The total number of bankruptcy filings, including both personal and business, has grown by 98 percent, to 1,661,996 in the 12-month period ending Sept. 30, from 837,797 during the same period ending Sept. 30, 1994.

[JailBush]

1. So what?

An increase in personal bankruptcies is one of the symptoms of a jobless recovery. No jobs, more bankruptcies - the economy is rebounding even faster than I expected! In the meantime, the desperation of our enemies in Iraq is revealed by increasing casualties among Coalition forces. All we need now is a nuclear attack from North Korea, and we'll surpass the best years of the Clinton administration!

[denverbill]

2. Yes, the increase proves the economy is getting desperate. n/t

[NewzJunkE]

3. I owe, I owe, dump off the debt I owe ...

.. to those dumb saps with A1 credit. DOH ! :crazy:

Don'tcha think maybe part of the bankrupcy rehab process should include $$ management and responsibility ?