The declaration of bankruptcy in 2008

Nationally, both personal and business bankruptcy filings in 2007 improved by 2008.

In fact, in 2008 exceeds the number of bankruptcy filings is expected 1,000,000! One of the most common reasons that people subscribe Bankruptcy large medical expenses, which are not reimbursable easy. Another common reason is the loss of jobs. And, finally, unsecured debt such as credit card debt, can be very large, very quickly if not managed properly.

In 1990, some banksstarted extending generous credit lines for consumers with credit cards. Credit was easy to reach and consumers with the credit cards used for anything imaginable can buy. Credit cards can make life easier for many consumers, because they are easy to manage and monitor shopping.

However, as noted above, principal amounts and rates can be created very quickly if they are not paid. Nationally, the courts will see double-digit increase in the number of people, for the presentationCreditors. And, not surprisingly, bankruptcy filings are reported to be significantly in many countries that have suffered is a bubble "housing" and the resulting wave of foreclosures ... Arizona, California, Florida and Nevada are four states that have seen double digit increases have increased the number of bankruptcy filings.

How many consumers have recently discovered that unmanageable debt if they have lost jobs or no experience of a significant increase in fixedCosts. If more money is going to come in every month, the results of large debts that are not easily manageable.

Furthermore, some statistics, while some costs have increased recently, income has not kept pace with a greater burden. In particular, energy costs. Look at current gas or electricity prices. According to recent BLS. Governor CPI statistics, energy costs are more than 15% annually over the last 6 years at least! Increases have an incomesufficient to cover the increasing costs in line?

Probably not.

Thus the cost of income that run why so many people filing for bankruptcy protection? These are not easy questions to answer today, in silence in the face of obvious contradictions in the inflation and deflation, not to mention other factors.

However, more people are apparently filing for bankruptcy protection, and some experts believe that the trend will continue.