Consumer debt is consistent with bankruptcy filings.
Research by the Federal Reserve indicates that household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households. A high level of indebtedness among households could lead to increased household delinquencies and bankruptcies, which could threaten the health of lenders if loan losses are greater than anticipated. If you need to file personal bankruptcy or have questions about Chapter 7 and/or Chapter 13 bankruptcy, send us an e-mail or call and we will respond quickly and answer all of your questions.