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Chapter 7 Individual Bankruptcy Filings Jump 15 Percent In First 9 Months Of 2025
Posted on 10/6/25 at 12:39 pm
Posted on 10/6/25 at 12:39 pm
"A total of 249,152 individual Chapter 7 bankruptcy filings were made in the first nine months of this year in the United States, which is a 15 percent jump compared to the same period last year, the American Bankruptcy Institute (ABI) said in an Oct. 3 statement."
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7
Posted on 10/6/25 at 12:40 pm to John Barron
Individuals winning.
Posted on 10/6/25 at 12:45 pm to John Barron
Now do credit card debt, sub prime vehicle loans, and student loan delinquencies…
Posted on 10/6/25 at 12:54 pm to John Barron
Will be fun to watch how MAGA defends this.
Posted on 10/6/25 at 1:02 pm to idlewatcher
Any damage to corporate comps was well in the works way before election
Posted on 10/6/25 at 1:05 pm to John Barron
How had it been trending for the last four or five years?
Posted on 10/6/25 at 1:06 pm to John Barron
Where the data on the filings? What are the numbers by states, by age, by profession.
Posted on 10/6/25 at 1:06 pm to idlewatcher
quote:
Will be fun to watch how MAGA defends this.
It was stupid to call the effects of COVID policies/spending "Biden's economy" and it will be stupid when libs call this "Trump's economy"
Posted on 10/6/25 at 1:08 pm to SlowFlowPro
this is what happens when people run out of money 3 weeks into the month.
Posted on 10/6/25 at 1:08 pm to W2NOMO
quote:
Now do credit card debt, sub prime vehicle loans, and student loan delinquencies…
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Posted on 10/6/25 at 1:11 pm to John Barron
2024's filings were ~310k, which was an 18.8% increase over 2023's ~261k, which was 10% over 2022's 220k. For context, the last time we saw an 18% or higher YoY jump was 2009 (although the actual number was FAR higher at ~1.3M and had been preceded by 29% and 41% increases for 2008 and 2007, respectively).
If the 15% increase remains throughout the year it would actually mark a drop in the rate of increase while bringing the full number to ~356k (which would put the total number back to 2017-2018). While this indicates bankruptcies going the wrong way, they are still near historic lows.
I see them as a secondary coal mine canary (the real canary being vehicle and credit card defaults). When we get up to the 600k-700k/yr point and are still increasing at double-digit rates, that's when you know the shite is about to hit the fan.
If the 15% increase remains throughout the year it would actually mark a drop in the rate of increase while bringing the full number to ~356k (which would put the total number back to 2017-2018). While this indicates bankruptcies going the wrong way, they are still near historic lows.
I see them as a secondary coal mine canary (the real canary being vehicle and credit card defaults). When we get up to the 600k-700k/yr point and are still increasing at double-digit rates, that's when you know the shite is about to hit the fan.
Posted on 10/6/25 at 1:13 pm to idlewatcher
quote:
Will be fun to watch how MAGA defends this.
MAGA took office this year. Did you think a magic switch would be flipped?
Posted on 10/6/25 at 1:14 pm to idlewatcher
quote:
Will be fun to watch how MAGA defends this.
Defend...what? What policies of Trump's do you believe led to this?
Posted on 10/6/25 at 1:15 pm to John Barron
YOLO
Posted on 10/6/25 at 1:17 pm to imjustafatkid
quote:
Defend...what? What policies of Trump's do you believe led to this?
muh terriffs!!!
Posted on 10/6/25 at 1:17 pm to idlewatcher
quote:
Will be fun to watch how MAGA defends this.
well dumbass how about this?
249K is 115% of 216K, so they went up 33,000 or so. Over 9 months that is about 3,700 a month.
So?
Posted on 10/6/25 at 1:20 pm to Bard
quote:
2024's filings were ~310k, which was an 18.8% increase over 2023's ~261k, which was 10% over 2022's 220k. For context, the last time we saw an 18% or higher YoY jump was 2009 (although the actual number was FAR higher at ~1.3M and had been preceded by 29% and 41% increases for 2008 and 2007, respectively).
If the 15% increase remains throughout the year it would actually mark a drop in the rate of increase while bringing the full number to ~356k (which would put the total number back to 2017-2018). While this indicates bankruptcies going the wrong way, they are still near historic lows.
This is why I asked how things were trending. Thank you for providing context.
Posted on 10/6/25 at 1:34 pm to idlewatcher
Bankruptcy doesn’t happen over night. Trump hasn’t even been in office a year. People have been struggling for a few years. This didn’t start when Trump won the election.
But….orange man bad….
But….orange man bad….
Posted on 10/6/25 at 1:36 pm to idlewatcher
It's expected when you stop the flow of money into the grad-student-non-profit-activist-vote-buying pipeline rats will have to jump ship and declare bankruptcy
Posted on 10/6/25 at 1:39 pm to idlewatcher
quote:
Will be fun to watch how MAGA defends this.
Assume /s/.
But just in case…
Trump has been been in office for a little over 8 months but somehow “MAGA” resulted in a bunch of new bankruptcies. All of the decisions and forces and results all magically collided without a few months of Trump’s term.
These couldn’t POSSIBLY have anything to do with the potato in office the previous four years. Or the COVID insanity from a whole lotta decision makers not named Trump or tagged as “MAGA.”
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