chapter 7 bankruptcy

Consumer Bankrupties Estimated to be 1.4 Million in 2009

Wow. Consumer (note they do not even use the word individual, families, households anymore, we're all just consumers) Bankruptcies are May Hit 1.4 Million:

Consumer bankruptcies show no sign of abating after rising more than a third this year and may hit 1.4 million by Dec. 31 as jobs are lost and loans are harder to get, according to the American Bankruptcy Institute.

More than 126,000 consumers filed for bankruptcy in the U.S. last month, 34 percent more than in July 2008, the ABI said in its latest report on Aug. 4. The increase came after a 36.5 percent rise in personal bankruptcies nationwide in the first six months, to 675,351, according to the ABI research group, which interprets data collected by the National Bankruptcy Research Center.