Why is the number of americans filing bankruptcies up 35% from last year?

Question

Why is the number of americans filing bankruptcies up 35% from last year?

Answer 1

Because people who took out mortgages they couldn't afford and lived beyond their means are now finding themselves unable to get themselves out of the financial hole they dug.

Answer 2

Probably because costs are up 35% from last year...  and hardly anyone but greedy selfish crooked selfserving CEOs have gotten a 35% raise.

Answer 3

BECAUSE OF DREAM MORTGAGES, which qualified the unqualified to buy houses.  They turned out to be nightmares.

Answer 4

Its up since the Democrats took control of congress.

Answer 5

Because the people that were having a hard time keeping up with their payments can no longer pay them because the gas prices have caused everything to raise.  It finally pushed them over their budget.  I would say they have no other choice.  A friend of mine is looking for a house to buy and there are just so many on the market right now.  Alot of them are foreclosures.  One thing we have seen is some of the homes, really nice ones, have been stripped.  You go in and there are no light fixtures, no electrical wire, no heat pump or furnace, no molding, no carpet, no vanities, no sinks.  These places are being totally stripped.  Then the bank loses again because they have to either fix it and take a loss, or sale it for less and take a loss.