How Many Bankruptcies Will Be Filed In 2008?
Will bankruptcy filings exceed 1 million this year? A look at the current data and the historical data make the case for bankruptcy filings to exceed 1 million. But wait a minute, I thought Congress changed the bankruptcy laws in October 2005 to curtail consumer filings and prevent abuses in the system. I though Congress had fixed the problem. As usual, Congress fixed a problem that didn't need fixing and created several other bigger problems. Our fearless leaders have created an economic nightmare in this country that needs to be fixed, and they are doing nothing to improve the problems. I'm willing to bet that if their homes were going into foreclosure something would be getting done to stem the wave of foreclosures in this country.
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