U.S. consumer bankruptcy filings totaled 770,117 nationwide during the first six months of 2010, a 14 percent increase from the year-ago period, according to the American Bankruptcy Institute (ABI).
U.S. consumer bankruptcy filings totaled 770,117 nationwide during the first six months of 2010, a 14 percent increase from the year-ago period, according to the American Bankruptcy Institute (ABI).
July 20th, 2010 at 11:52 am
What do I have to pay in consumer prices when someone else goes bankrupt?
Consumer bankruptcy filings have skyrocketed in recent years. Bankruptcies rose 94.7 percent from 1990 – 2000, causing American families to pay an additional $400 a year in increased costs of goods and services, according to the American Bankers Association. I would like to know what that amounts to for 2008 with all the bankruptcies going on.
July 20th, 2010 at 4:54 pm
There IS NO answer to this question. MOST of the events that will determine the answer have not happened yet. Even AFTER the fact, any answer is an ESTIMATE. Actual numbers, including the number you quoted are IMPOSSIBLE to compute accurately.
References :
July 20th, 2010 at 4:56 pm
Steve is right, it is too early to provide any kind accurate estimates as to what the financial impact to you will be due to the increase in personal bankruptcies. But it will cost you. In higher costs paid for consumer items and higher interest rates in any consumer debt you take. It will also cost you more in taxes due to various government bailouts being considered. One of the political parties wants to make it easier to file bankruptcies and have a larger bailout. Both of which will cause increased costs to responsible consumers. Remember this fact when you vote in November.
References :