Consumer bankruptcy filings climb 11%

Market Watch ^ | 10/4/2010 | Alistair Barr

[SeattleBruce]

SAN FRANCISCO (MarketWatch) -- U.S. consumer bankruptcy filings rose 11% in the first nine months of this year, versus the same period in 2009, the American Bankruptcy Institute said Monday, citing data from the National Bankruptcy Research Center. Filings totaled 1,165,172 nationwide during the first nine months of 2010, compared to 1,046,449 total consumer filings during the same period a year ago. The bankruptcy filings so far in 2010 represent the highest total since 2005.

[SeattleBruce]

Ruh roh...I thought the Great Recession was OVER??!!

[scooby321]

Bam’s polices helped the middle class and where is unexpectedly?

[library user]

Yeah, recession is over, but now we’re in a depression or about to be.

[WAW]

Unexpectedly?

[Pollster1]

Hope and Change!

[Da Coyote]

Nothing to see here.

Move along.

Move along.

[Bean Counter]

Now we know for certain why consumer debt has been falling. It sure ain’t because everyone is suddenly paying off those credit cards.

[corbe]

In the first 9 months of 2009 we were in a Recession, according to the Zero, these current numbers posted at the end of the ‘Summer of Recovery’ as someone posted earlier, prepare for the ‘Winter of Discontent’.

Comparative ANALysis indeed.

[NoGrayZone]

Damn that Bush!!!!

[Anti-Bubba182]

It's Bush's fault!™

[Hoodat]

Obviously, Obama inherited that 2010 increase.

[GOPJ]

Consumer bankruptcy filings climb 11%...

Well, Obama DID say he'd bring CHANGE...

[blam]

The Recent Collapse In Consumer Growth Has Been WORSE Than The Great Recession

[SunkenCiv]

Hope for change:

U.S. consumer bankruptcy filings rose 11% in the first nine months of this year

[chilltherats]

They hoped......but ran out of change. I suspect this latest crush of bankruptcies are filed by the people who lost their jobs months or a year or even more ago, have burned through their savings, and have little or nothing left now. My guess is that these are not the lowlifes who shouldn’t have been given home loans and other large extensions of credit that they couldn’t afford to repay. I think these are the people negatively impacted by the downturn the lowlifes, Bawney Frank, Chris Dodd, zero and others caused. I think these are the productive people who are taking the hit for the scum running this country.

[screaminsunshine]

They probably have huge debts from credit card and late payment scams.

[SeattleBruce]

“I think these are the productive people who are taking the hit for the scum running this country.”

Exactly.