Bankruptcy Filings Up 9% in 2010

According to a recent National Bankruptcy Research Center report, bankruptcy filings increased by 9% in 2010 (versus 2009). The total number of bankruptcy filings in 2010 was a little over 1.5 million -- a ratio of about one in 150 Americans. This is the highest number of bankruptcy filings since 2005, when Congress revamped the bankruptcy laws. To learn more, see Bankruptcy Filings Increase by 9% in 2010, in Nolo's Bankruptcy & Foreclosure blog.