Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
2010 bankruptcies up 9 over 2009
ALEXANDRIA, Va. (1/5/11)--Personal bankruptcies increased 9% to more than 1.53 million in 2010, according to the American Bankruptcy Institute (The Wall Street Journal Jan. 3). The 2010 figure is the highest in any year since 2.04 million bankruptcies were filed in 2005, when Congress revised the bankruptcy statute, making it more difficult for individuals to discharge debt under court protection (Reuters Jan 11, 2006). By comparison, fewer than 600,000 bankruptcies were filed in 2006. Since then, the number of bankruptcies filed has increased each year because the housing slump and recession have pushed unemployment to nearly 10%, said analysts. The Southwestern and the Southeastern regions have been hit particularly hard during the economic crisis. However, in 2010, filings dropped in Tennessee, South Carolina and Alabama. Filings were up dramatically, however, in two Southwestern states. In California, bankruptcies increased by 25%. In Arizona, filings rose nearly 24%.


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
1 Day ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
1 Day ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago