Bankruptcy filings reflect a weak economy – 9 percent jump in bankruptcy filing in last month of data. Bankruptcy map shows Nevada and South have highest filing rates per capita. $79,000 income and $11 million in debt?

Without a job or adequate income, most will simply default whether it is in bankruptcy or through foreclosure.

MyBudget360.com

Bankruptcies are still plaguing this country and show deeper strain in the fabric of the economy. Average Americans are still very much dealing with the challenges of a deep and profound recession. Filing for bankruptcy is usually the end of the financial line for many Americans. Yet in the last month of data for March of 2010 we saw the highest number of bankruptcy filings in the entire fiscal year. Instead of the rate dropping it has actually increased. Keep in mind that these filings are coming at a time when bankruptcy laws have become tougher and stricter on most Americans. Yet there is only so much you can squeeze out of someone who has entered the last stage of their financial options. This is why even programs that focus on mortgage adjustments don’t help because they don’t drill deep enough into the core of what is happening in our economy. Without a job or adequate income, most will simply default whether it is in bankruptcy or through foreclosure.

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