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Sun Aug 11, 2019, 02:22 PM

Bankruptcy Filings Rising Across the Country and It Could Get Worse

By John Aidan ByrneAugust 11, 2019 | 5:48am

While total bankruptcy petitions nationwide by consumers and businesses are still well below Great Recession levels, analysts say there is an unmistakable trend upward.

By John Aidan ByrneAugust 11, 2019 | 5:48am

Bankruptcies are back — flashing warnings that more Americans are knee-deep in debt in big cities like New York.

While total bankruptcy petitions nationwide by consumers and businesses are still well below Great Recession levels, analysts say there is an unmistakable trend upward.

New York state’s bankruptcy filings, for instance, have risen steadily the past three years, hitting 34,711 in 2018, up from 30,112 in 2016, according to the American Bankruptcy Institute (ABI), based on data from Epiq Systems.

More consumers nationwide are falling behind on their payments and filing for bankruptcy to resolve overwhelming debt loads. And low unemployment, an uptick in average wages and the latest Fed interest rate cut have not restrained the debt monster. Some cash-strapped consumers are even finding relief at food pantries.

“In high-cost cities like New York, personal incomes are not often enough to pay the household bills,” Zac Hall, vice president of anti-poverty programs at the Food Bank of New York, told The Post. “We are seeing people using consumer debt as a way to make ends meet when they come here,” he added, citing the pressures his nonprofit faces to keep up the distribution of food and meals at no cost to some 1.5 million New Yorkers.

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https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

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Response to RCW2014 (Original post)

Sun Aug 11, 2019, 03:09 PM

1. Warren gave a warning last month.

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Response to Lifelong (Reply #1)

Sun Aug 11, 2019, 03:19 PM

2. Funny , her ideas will bring about another recession and she worries about Trump lol.

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Response to DDKick (Reply #2)

Sun Aug 11, 2019, 03:27 PM

4. trump's ideas have brought the recession

ms warren is the best economist in the senate, and that includes Bernie sanders.

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Response to rampartb (Reply #4)

Sun Aug 11, 2019, 07:42 PM

9. ''trump's ideas have brought the recession''...LOL!!!...LOL!!!...LOL!!!...LOL!!!...LOL!!!...LOL!!!..

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Response to rampartb (Reply #4)

Sun Aug 11, 2019, 08:02 PM

10. best economist in the senate?

That doesn't say much for the others. Warren is a lawyer, Handling clients filing bankruptcy does not make you an economist

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Response to RCW2014 (Original post)


Response to USNRET1988 (Reply #3)

Sun Aug 11, 2019, 03:31 PM

5. Ahhhh. Looks like someone got their "fee-fees" hurt.

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Response to USNRET1988 (Reply #6)

Sun Aug 11, 2019, 04:30 PM

7. Oh you really, really did. What did you do to provoke RCW, he usually doesn't crawl down to

the rightibois level of discourse.

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Response to DillyDilly500 (Reply #7)

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