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Record Number of Personal Bankruptcies in 2010. Experts Expect the Num

 · Personal bankruptcy filings slowed their precipitous climb, rising 8 percent in 2010. While it’s a far cry from the 32 percent jump from 2008 to 2009, many experts believe filings are far from reaching level ground. “We have a situation that is nowhere near resolved right now,” given the.

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We saw a similar impact of high housing prices on the number of Canadians choosing to file a consumer proposal as an alternative to bankruptcy. Across Canada, consumer proposals grew by 7.4% while personal bankruptcies fell by 0.1%. In BC, the migration to proposals as an insolvency option was even greater.

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 · At what age are people most likely to file for bankruptcy as a result of healthcare costs? While one might expect the highest number of medically related bankruptcies to occur among our oldest citizens, this is not the case. Bankruptcies due to medical costs hit hardest in the 35-44 age bracket, where they affect nearly 30 percent of those filing.

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1.5 million Americans filed for bankruptcy in 2010 By Jerry White 6 January 2011 The number of people in the US filing for bankruptcy rose by 9 percent last year to 1.53 million, as more working.

I want to talk a bit more about why I dislike the Himmelstein et. al. study that found more than half of all bankruptcies were due to medical reasons. There are a few reasons that I don’t find.

But after hitting record levels in 2005 (paywall), personal bankruptcy filings are are now in their twelfth straight year of decline. US federal court records show a 50% drop since 2010 from 1.5 million to 766,00 last year with no signs of abating. Isolating the reasons remains difficult.

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Across the U.S., they’ve been closing at a rate of about one per month since 2010 – a total of 78, or about 6 percent. About 14 percent of the U.S. population lives in rural counties, a proportion.

Two major types of personal bankruptcy apply to consumers. Chapter 7 bankruptcy allows debtors to discharge all or part of their debt. In Chapter 13 bankruptcy, debtors repay all or part of their debt based on a payment plan.

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