Many Americans Considering Bankruptcy | Milwaukee, WI

Milwaukee 414-250-7880         Madison 608-465-4594         Green Bay 920-626-3125

brand-logo_new
Serving all of Wisconsin
Toll-free 866-906-5634  Milwaukee  414-250-7880     Madison  608-465-4594     Green Bay 920-626-3125

Our 3 Step Process

Step 1:
Get Out Of Debt

Step 2:
Clean Up Your Credit

Step 3:
Build Your Score

Home 9 Chapter 13 Bankruptcy 9 Many Americans Considering Bankruptcy

Many Americans Considering Bankruptcy

by | May 26, 2011 | Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

According to a new survey by the legal information website FindLaw, almost one in eight Americans, or 13%, have either filed or considered filing a bankruptcy.

The survey found that people between the ages of 35 and 54 are 50% more likely to have considered filing for bankruptcy than people ages 18-34 or 55 and older. People of retirement age (65 plus) are the least likely to have considered filing for bankruptcy.

Last year saw the highest rate of personal bankruptcies since the 2005 BAPCPA laws were enacted with over 1.5 million Americans having filed. With the population of the United States at about 307 million, that means 4% of those who considered bankruptcy filed within the last year.

The FindLaw survey was conducted using a telephone survey of a demographically balanced group of 1,000 American adults and has a margin of error of plus-or-minus 3%.