Bankruptcy Numbers Are In

In a stark reminder of the mountain of poor decisions the average American clownsumer has buried themself under, personal bankruptcy numbers have been released, and it ain't pretty.

Culminating two straight years of increases in bankruptcy filings, these are the latest numbers:

• Filings are up 8% from October to September this year.
• Filings are up nearly 34% YoY.
• This is the first time there has been more than 100,000 bankruptcy filings (there were 108,595) in a single month since 2005 when a new law made it more difficult and more expensive to file.
• When compared to filers in 2001, people who filed for bankruptcy protection in 2007 had on average 21% more secured debt and 44% more unsecured debt, but their income had remained flat.
• Places where real estate speculation ran particularly rampant were hit the hardest: YoY, California had 80% more filings, Nevada 70% and Florida 62%.

Related:
Bankrupt: Coming Soon to Someone You Know, Crisis of Consumer Confidence