Though the "table" below might be tough to read [sorry - I do not know how to format a table here] - the important number is the total amount - which reflects the number of US citizens who have filed for bankruptcy over the last 60 months.
The number does include an estimate of 31.9% of all filings being joint (husband/wife).
A staggering 7.75 million citizens have filed in the last 60 months alone.
Compare this with the number of adults in the US - estimated to be in the neighborhood of 256.8 million in 2010.
This means that 3 out of every 100 Americans has filed for bankruptcy in the past 60 months! People, you are not alone!!!!
The actual number impacted by bankruptcy is likely even higher. Why? Well these numbers do not include the business bankruptcies, as many "people" file for bankruptcy of their incorporated business (and not personal.) Add these into the mix and we are looking at even more people who have filed for bankruptcy.
So - when you start looking around, realize that for every crowd of just 33 people, odds are that at least one of them has filed for bankruptcy in the last 60 months alone.
The lesson here for newcomers is DO NOT BE ASHAMED. The Great Recession has swept up the best of us. Life will go on. Personally I am excited about my bankruptcy and have decided to look at it as a fresh start - not a scarlet letter.
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Year Total BK Filings Personal BK Filings Estimated Indviduals
2010 1,572,597 1,512,989 1,995,632
2009 1,306,315 1,251,294 1,650,457
2008 967,831 934,009 1,231,958
2007 751,056 727,167 959,133
2006 1,484,570 1,453,008 1,916,518
Total Estimated Individuals 7,753,698
Sources:
The number does include an estimate of 31.9% of all filings being joint (husband/wife).
A staggering 7.75 million citizens have filed in the last 60 months alone.
Compare this with the number of adults in the US - estimated to be in the neighborhood of 256.8 million in 2010.
This means that 3 out of every 100 Americans has filed for bankruptcy in the past 60 months! People, you are not alone!!!!
The actual number impacted by bankruptcy is likely even higher. Why? Well these numbers do not include the business bankruptcies, as many "people" file for bankruptcy of their incorporated business (and not personal.) Add these into the mix and we are looking at even more people who have filed for bankruptcy.
So - when you start looking around, realize that for every crowd of just 33 people, odds are that at least one of them has filed for bankruptcy in the last 60 months alone.
The lesson here for newcomers is DO NOT BE ASHAMED. The Great Recession has swept up the best of us. Life will go on. Personally I am excited about my bankruptcy and have decided to look at it as a fresh start - not a scarlet letter.
++++++++++++++++++++++++++++++++++
Year Total BK Filings Personal BK Filings Estimated Indviduals
2010 1,572,597 1,512,989 1,995,632
2009 1,306,315 1,251,294 1,650,457
2008 967,831 934,009 1,231,958
2007 751,056 727,167 959,133
2006 1,484,570 1,453,008 1,916,518
Total Estimated Individuals 7,753,698
Sources:
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