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Filings soar before Monday’s tough bankruptcy law takes effect
For the fourth straight week, U.S. personal-bankruptcy filings hit an all-time weekly high as consumers mired in debt rush to file before next Monday, when a new law makes it tougher to get federal debt relief.
Nearly 103,000 Americans filed for bankruptcy in the week that ended Friday, up from the previous weekly high of 68,287, according to figures from Lundquist Consulting Inc. of Burlingame, Calif., a financial-services advisory firm.
Typically, bankruptcy filings were about 30,000 a week.
From Filings soar before Monday’s tough bankruptcy law takes effect
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