Personal bankruptcy filings in 2010 reached their highest levels in five years and will continue to rise in the new year, according to the American Bankruptcy Institute.
Consumer bankruptcies reached roughly 1.53 million for the 2010 calendar year ended Dec. 31, numbers compiled by National Bankruptcy Research Center for ABI concluded. The figure represents a 9% increase from 2009, when approximately 1.41 million consumer filings were recorded.
U.S. Personal Bankruptcy Filings Reached a 5-year high in 2010.