Bankruptcy Stats And Truth

Bankruptcy Stats And Truth

Currently there are more than triple the number of bankruptcies being file then there were in the mid 80’s.

Most, 97 percent, of bankruptcies are filed by consumers. 

Last year, 2010, chapter 7 filing increased more than 8%.

Even when you file bankruptcy you can not discharge student loans, alimony, most taxes, and child support, and you will still have to pay these debts.

 When an individual files for bankruptcy their credit report reflects that fact for up to 10 years.