Under Biden, Bankruptcies Are Rising For The First Time In Over 13 Years. Here’s Why

Under Biden, Bankruptcies Are Rising For The First Time In Over 13 Years. Here’s Why

"...Americans filed more than 39,000 personal bankruptcy cases in August 2023, up 18% year-over-year, with bankruptcies beginning to spike after reaching record lows in 2021 and 2022, with the number of filings rising for all chapters for the first time year-over-year since 2010, according to data from the U.S. Courts...

• Total household debt reached a new high in the second quarter of 2023, with Americans collectively owing $17.06 trillion. 
• More than $1 trillion of that debt was held in the form of credit cards...