U.S. Bankruptcy Statistics

When it comes to the topic of consumer bankruptcy, there are many statistics that are surprising.  Below, we have listed statistics that were compiled by Harvard Professor Elizabeth Warren.  The study is named The Fragile Middle Class: Americans in Debt and surveyed bankruptcy debtors:

§  In the United States, the average age of bankruptcy filers in 38.

§  Two thirds of all people who file for bankruptcy have lost their jobs.

§  91% of all bankruptcy filers chose to pursue bankruptcy due to job loss, divorce or medical events.

§  Of the people filing for bankruptcy, 44% are couples, 30% are single women and 26% are single men.

§  An alarming 40% of bankruptcies are filed after people have gone through some sort of medical crises.

§  90% of people who pursue bankruptcy have a mortgage, an average of $2,500 in debt and two car payments.

It is plain to see that people file for bankruptcy for many different reasons and that it is more common than most would think.  If you are planning to file for consumer bankruptcy in Texas, contact the Malaise Law Firm to set up a consultation with a San Antonio bankruptcy attorney.