A recent article on personal bankruptcy filings in Kiplinger referenced the research of Professor Bob Lawless. He credits the economic stimulus for the continued decline in bankruptcy filings from 2019.
"Families are spending less and saving more, which is also slowing filings, he says. But this trend could change in the months ahead. In his research, Lawless has found that people tend to struggle financially for two to three years before deciding to file for bankruptcy."
The remainder of the article provides important information for consumers that may be considering filing for bankruptcy.
Read the full article at kiplinger.com.