Mish's Global Economic Trend Analysis: Bankruptcies: The No. 1 Growth Area For 2008: "Bankruptcies: The No. 1 Growth Area For 2008
The St. Louis Post Dispatch is writing Bankruptcy filings expected to soar as economy slides
The law that drastically changed the Bankruptcy Code in October 2005 was supposed make it tougher to escape debts and reduce the number of filings. It worked, for a time.
Although the law made filing for bankruptcy more complex and expensive, the number of cases locally and nationally is rising again. Experts predict a big hike later this year, triggered by the nation's wobbling economy and heavy levels of consumer debt."
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