Group predicts 1.4 million personal bankruptcy filings in 2009

09/3/2009 | Bloomberg

There were 119,874 bankruptcy filings in the U.S. in August, up 24% from a year ago, according to the American Bankruptcy Institute and National Bankruptcy Research Center. "Consumers continue to turn to bankruptcy as a shield from the sustained financial pressures of today's economy," said Samuel Gerdano, the executive director of the American Bankruptcy Institute. The group expects consumer bankruptcy filings to exceed 1.4 million this year.

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