In July 2008, The New York Times posted a large interactive chart showing that debt levels in the US have reached more than $100,000 for some consumers. It's hard to decipher who the post was describing. That is, it's unclear whether the chart was talking about the average household, homeowner, or consumer. Regardless, the message is clear- debt levels for many consumers have increased in...
Who's filing for bankruptcy during 2008? Given that many states saw double digit increases in the number of consumer bankruptcy filings from 2007 to 2008, apparently more people than you'd think.
Let's take a look at a fictional consumer living just outside Los Angeles, CA. For purposes of this article, let's call her "Angie."
Angie is a 35 year old single mother of two. She was employed...
