When you take the time to view the statistics of bankruptcy you will be alarmed and shocked. In a years time form 2006 to 2007 the number of bankruptcy filings increased by 39,365. On June 30th, 2006 it was recorded that for the year a total of 91,674 people filed for bankruptcy. On June 30th, 2007 it was recorded that for the year a total of 91,674 people had filed for bankruptcy.
The rises in chapter 7 bankruptcies are steadily climbing and are not showing any chance of ceasing. The numbers of those who have filed for bankruptcy are the highest since the new bankruptcy laws of 2005 were set in place. The highest bankruptcy rates by state include Tennessee, Utah, Georgia and Alabama.
Other bankruptcy statistics are just as jaw dropping. Comparing Non-business to business filings you may be surprised. In 2006, the number of bankruptcies was 597,965 for Non-Business cases. Only 19,695 bankruptcies were filed by businesses in 2006.
When it comes to personal bankruptcies over half of those who file have experienced a serious health condition. Two out of three fliers have lost their job and 44% of filers are couples. More women than men file for bankruptcy....
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