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A total of 52,007 bankruptcy filings were made by individuals and businesses in August, up 8 percent from a year ago amid cost pressures and geopolitical uncertainties, according to the American Bankruptcy Institute (ABI).
There were 49,377 filings made by individuals last month, up 9 percent year-over-year, and 2,630 commercial filings with a 2 percent increase, ABI said in a Sept. 4 statement.
“Persistent cost pressures, restrictive credit markets, and ongoing geopolitical uncertainty continue to create challenges for consumers and small businesses facing economic distress,” said Amy Quackenboss, executive director at ABI.
While ABI didn’t identify specific geopolitical issues, the U.S.–Iran war shows no signs of easing. On Monday, Iran’s parliament speaker Mohammad Bagher Ghalibaf threatened that Tehran would launch fresh attacks against American energy infrastructure or assets in the Middle East….
There were 49,377 filings made by individuals last month, up 9 percent year-over-year, and 2,630 commercial filings with a 2 percent increase, ABI said in a Sept. 4 statement.
“Persistent cost pressures, restrictive credit markets, and ongoing geopolitical uncertainty continue to create challenges for consumers and small businesses facing economic distress,” said Amy Quackenboss, executive director at ABI.
While ABI didn’t identify specific geopolitical issues, the U.S.–Iran war shows no signs of easing. On Monday, Iran’s parliament speaker Mohammad Bagher Ghalibaf threatened that Tehran would launch fresh attacks against American energy infrastructure or assets in the Middle East….
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