Bankruptcy Filings Continue to Drop in 2022
Bankruptcy filings were 760,000 back in 2019. In 2022 they are down to 380,000. Filings dropped during the COVID epidemic. Moratoriums preventing landlords from evicting tenants, along with mortgage deferments, mortgage modifications, and COVID relief funds probably were the reason for the drop in bankruptcy filings. Credit cards have also tightened credit, which means less people have large credit card balances. Credit card companies and mortgage lenders have been the main force driving up bankruptcy filings. In other news, the…