"The second quarter of 2007 marks the fifth consecutive
increase in bankruptcy filings since the first quarter of 2006,"
reports Lundquist Consulting, a bankruptcy research firm, on July
3, 2007.
The Institute for Financial Literacy noted that the primary reasons for financial distress in 2006 included: overextension of credit, reduction of income or job loss,
illness or injury, and lastly, unexpected expenses. Read Who Went Bankrupt in 2006? A Demographic Analysis of American Debtors
for more information
