Consumer Bankruptcies Up 27.9% in Oct (Year Over Year)

[I_Heart_Petrobilia]

Link:
http://blogs.wsj.com/economics/2009/11/04/consumer-bankruptcies-rose-in-october/

As the article points out -- bear in mind that all of these bankruptcies are happening in the wake of the tougher standards that were legislated in the past couple of years, to make it harder for people to declare bankruptcy. 

In Canada it's even worse.  Consumer bankruptcies were up a whopping 45% in October, year over year.  http://www.theglobeandmail.com/report-on-business/bankruptcies-to-remain-high-roubini-calls-for-u-recovery/article1371244/

[mtlouie]

Honestly, those new regulations are only horrible if you have a job.  That's not much of a problem anymore.

[Tinfoil Hattie]

.

[Mama Nueva de Elian]

These used to be called "personal bankruptcies" back when we were (at least nominally) considered persons.

[PoppyMcGee]

I can't afford bankruptcy.

[wordnerd]

I can't afford bankruptcy.

 

Funny... but sad and also very true!

[mtlouie]

I can't afford bankruptcy.

We were just talking about this last night.  We know at least three people who need to file for bankruptcy (two are out of work) but they can't come up with the filing fee, which in our state is over $1000 right now.

[PoppyMcGee]

I know, it is really sad. I also know about 3 people (one in real life, two on the internet) that need to file but can't afford it. I think I looked it up, and by the time it is all said and done we'd need to have about $3000. If we had $3000 we probably wouldn't need to file! How pathetic is that? Of course, "rich" people never have trouble coming up with that money. 

On a funny note, I told my husband this once and he asked if we could put the charge on our credit card.  (Disclaimer: We have no credit card debt.)