| Bankruptcy, what is the average American supposed | | | | Business bankruptcies have increased 41.6% during the |
| to do? | | | | same time period. A total of 617,660 in 2006 has |
| With the economy in turmoil, Americans are running | | | | jumped to 850,912 bankruptcies in 2008. Filing for |
| scared. In 2007, more than 1% of all homes in America | | | | bankruptcy may be a viable option, especially with a |
| were in some stage of foreclosure. This is up from | | | | dismal outlook of the American economy. |
| 0.58% in 2006. Since December of 2007, foreclosure | | | | There have been many business that have filed for |
| filings for banks rose from 97% from just one year | | | | bankruptcy. Is our economy safe? Recent business |
| ago. This is added to an ever rising unemployment rate | | | | filings include: Chicago Tribune newspaper, LA Times, |
| and we now find ourselves up a creek with no | | | | Bally fitness (twice), Citibank, and Circuit City. This is |
| available paddle. | | | | since Dec. of 2008. I predict the percentage of |
| There is hope, bankruptcy might be the proverbial | | | | bankruptcies will see a dramatic increase in 2009, at |
| paddle that some Americans desperately need. | | | | least by 30%. |
| Americans are taking advantage of their constitutional | | | | Personal bankruptcy is written into the constitution and |
| right and filing for bankruptcies. According to experts | | | | is a business and citizen's right. Many will be exercising |
| bankruptcies are on a dramatic rise since last year. | | | | this right in the coming year, including some of the most |
| Chapter 7 bankruptcies have increased 36.7% from | | | | profitable businesses of recent times. Whatever it |
| year end June 30th, 2007 to year end June 30th, 2008. | | | | takes to keep the consumer purchasing, right? |