Tag Archives: American Bankruptcy Institute

Consumer bankruptcies hit highest level in four years

Consumer bankruptcies surged 41% last month relative to the year before as home values continued to fall, according to the American Bankruptcy Institute. The number of bankruptcy filings also outpaced the August level of 4% – by a factor of 10. Nearly 125,000 people filed for bankruptcy protection in September 2009, the fourth-highest since a major change in the bankruptcy law was enacted in 2005.

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