Debt Relief Industry Forecasts and Trends

Bankruptcy Filings Plummet in Three Years

Written by Steve Rhode

As further evidence about the decreased demand for debt relief help, the United States Courts have just released the latest statistics which revel the number of non-business bankruptcy filings.

According to the year end September 30th data the number of consumer bankruptcies fell 31 percent from the same period in 2010.

Current filings, for the last twelve months, were 1,072,807 versus 1,538,033 for the same period ending in 2010.

The number of chapter 7 bankruptcy filings is still hanging at about 70 percent of consumer bankruptcy cases filed. – Source

Based on the current data it looks as if the downward pressure for debt relief services will continue into the future and not be abated until lenders begin to significantly ramp up consumer lending to sub-prime consumers.

Non-business bankruptcy filings dropped 12 percent just in the last year alone.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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