Bankruptcy Statistics And The Outlook For 2010
Author: Josh John
All Portland Oregon Bankruptcy Attorneys have seen an increase in new bankruptcy clients and filings this year.
The number of bankruptcy cases filed in year 2009 in the United States increased by over 35% over the preceding year of 2008. The Administrative Office of the U.S. courts released a report that over 1,300,000 bankruptcy filings have been filed in the fiscal year ending in June 2009. According to same office, the previous year saw less than 1,000,00 filings.
The overwhelming majority of bankruptcy filings are consumer cases. The talley of consumer fillings, 1,250,000 in all were filed in 2009. That was a 34% increase since 2008.
Chapter 11 saw the sharpest rise in filings in 2009. These bankruptcy filings rose 91% in 2009.
Unfortunately the upward trend of new filings shows no sign of slowing down.
Consider for attorney, who makes you relaxed and is understanding about your problem. Try to found out if the attorney is organized, prompt and work well together. Last but not the least, you should also make sure that matters about fees and payment are settled Portland Oregon bankruptcy attorney will offer free consultations, give you experienced service, and ask you to fill out evaluation form etc.
As long as President Obama is in office and continues to attack businesses with threats of new taxes, business owners will continue to lay off workers in an attempt to stay in business. This new administration is partially to blame for the countries mistrust of our economy as President Obama continues to lie about the economic situation the U.S. is in.
Article Source: http://www.articlesbase.com/investing-articles/bankruptcy-statistics-and-the-outlook-for-2010-1966211.html
About the Author
Author is a skilled Bankruptcy Attorney can offer the best bankruptcy services in your area. Start with a free bankruptcy evaluation and get associated to Portland Oregon bankruptcy attorney professional to handle your bankruptcy case and give you a clear idea.
What are some key personal debt statistics for the US? e.g level of consumer debt, personal bankruptcy rates?
I want to get statistics that confirm the extent of the consumer debt crisis in the US today.
I need to get statistics /quotes from respected sources like Washington Post, New York Times, Federal Reserve
looking for bankruptcy filing statistics for San Diego, CA (chapter 7′s and chapter 13′s)?
Would like to know how many Chapter 7 cases and how many Chapter 13 cases have been filed at the U.S. Bankruptcy Court, San Diego, CA, from 1/2006 to 9/2006
How can you tell if a company is heading to bankruptcy?
Where in the financial statement do you look? what are some key statistics to look at?
For those who were here last night, do these statistics look familiar?
http://finance.yahoo.com/tech-ticker/the-u.s.-middle-class-is-being-wiped-out-here%27s-the-stats-to-prove-it-520657.html?tickers=^DJI,^GSPC,SPY,MCD,WMT,XRT,DIA
The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it
“the globalism and “free trade” that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn’t tell us that the “global economy” would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough.
Here are the statistics to prove it:
• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans “always or usually” live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don’t contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
• The top 10 percent of Americans now earn around 50 percent of our national income.
Giant Sucking Sound
The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new “global” labor pool. ”
Bill Clinton was the one who signed NAFTA, against the firm advice of Ross Perot. He’s the one to blame for all of this. And I notice Obama is doing nothing to stop any of this.
Do you now LOL the person who was posting them last night without a source, so he could blame them on the Republicans?
Middle Class America how’s that Trickle Down Theory working for you ? Do you agree with the statistics ?
Here’s a few statistics
• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans “always or usually” live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don’t contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
• The top 10 percent of Americans now earn around 50 percent of our national income.
So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.
What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about six unemployed Americans for every new job opening in the United States, and the number of “chronically unemployed” is absolutely soaring. There simply are not nearly enough jobs for everyone.
Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.
But you can’t raise a family on what you make flipping burgers at McDonald’s or on what you bring in from greeting customers down at the local Wal-Mart.
The truth is that the middle class in America is dying — and once it is gone it will be incredibly difficult to rebuild.
You can start by contacting the court. I’ve posted the link below. Bankruptcy filings are down 70%-80% in San Diego County since the reform laws went into effect. I don’t have current statistic, but there were less that 1800 total bankruptcies filed in San Diego by the middle of July.
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-consolidation.htm
P/E Ratio, quarterly returns, how much are the dividends, history of the stock price ( 52 week high vs low ).
If all these numbers falter, you know it is heading for trouble.
So you think all this is one Presidents or one political party is at fault. Sad. All Americans are too blame. Most Americans are fat, lazy and ignorant. It takes hard work and diligence to make a living and support a family. Many Americans just flat refuse. When you refuse, your job goes to someone else or it goes over seas. Your fault, not the government, yours.
It isn’t working out for me. I feel like I have been Urinated on.
I went from the upper middle to being at the Poverty line. I don’t blame it on Obama I worked for a Corporation, and I witnessted the tactics they use first hand to destroy the Middle Class in the USA.