According to data released on Tuesday, there were over 39,000 bankruptcy cases filed by Americans in August 2023, representing an 18 percent increase compared to the same period the previous year.
The data, provided by Unusual Whales, also revealed that there were more than 41,600 new bankruptcy cases recorded in August, encompassing both personal and business filings.
This marks the thirteenth consecutive month in which bankruptcy filings have exhibited a year-over-year rise, a trend attributed to the economic policies of the Biden administration, which some critics have characterized as problematic and detrimental.
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