The average American filing bankruptcy is a 35- to 54-year-old married
Caucasian with a high school degree or some college, is employed, and
earns less than $30,000 per year.
⢠The following groups demonstrated noticeable changes as a percentage
which may be attributable to the Great Recession:
 Americans 55 years and older are filing at higher rates;
 Asian Americans are now filing bankruptcy at double the rate
they were in 2006;
 African Americans are filing fewer bankruptcies than in 2006;
 Americans with advance degrees are filing at higher rates;
 Americans earning $30,000 or more make up 41% of filers;
 Americans who are unemployed saw a jump in filings by 3.2%
since 2008; and
 Americans who are married have seen an 8% increase in filings
since 2006.
⢠The percentage of Americans reporting Reduction of Income and/or Job
Loss as a cause of financial distress increased.
⢠The other common causes of financial distress reported by Americans
include Overextended on Credit, Unexpected Expenses, Illness/Injury and
Divorce.
http://www.financiallit.org/PDF/2009_Demographics_Report.pdf
Caucasian with a high school degree or some college, is employed, and
earns less than $30,000 per year.
⢠The following groups demonstrated noticeable changes as a percentage
which may be attributable to the Great Recession:
 Americans 55 years and older are filing at higher rates;
 Asian Americans are now filing bankruptcy at double the rate
they were in 2006;
 African Americans are filing fewer bankruptcies than in 2006;
 Americans with advance degrees are filing at higher rates;
 Americans earning $30,000 or more make up 41% of filers;
 Americans who are unemployed saw a jump in filings by 3.2%
since 2008; and
 Americans who are married have seen an 8% increase in filings
since 2006.
⢠The percentage of Americans reporting Reduction of Income and/or Job
Loss as a cause of financial distress increased.
⢠The other common causes of financial distress reported by Americans
include Overextended on Credit, Unexpected Expenses, Illness/Injury and
Divorce.
http://www.financiallit.org/PDF/2009_Demographics_Report.pdf