Consequences Are Unchanged Despite Bankruptcy's Fading Stigma

 

http://www.mainstreet.com/article/moneyinvesting/credit/debt/consequences-are-unchanged-despite-bankruptcys-fading-stigma

 

 

 as appearing in The Street

 

NEW YORK (MainStreet) — More than 13.5 million individuals and businesses filed bankruptcy in the last 10 years, according to Money Management International data while Detroit became the largest American city to go broke.And as it becomes increasingly a part of our national discourse, so too does it become less of a big deal.

Households Lost Average of $50K-$120K in Great Recession

 

http://www.mainstreet.com/article/moneyinvesting/credit/debt/households-lost-average-50k-120k-great-recession

 

 as appearing in the Street

 

 By Christine DiGangi

NEW YORK (Credit.com) — As a result of the Great Recession, the average American household will have lost between $50,000 and $120,000 in earning potential, according to a letter from the Federal Reserve Bank of Dallas.
Those figures assume that the country's economic output eventually returns to its pre-recession trend path. The estimated loss nationwide is between $6 trillion and $14 trillion, and the Dallas Fed partially attributes that wide range to uncertainty of how long the recovery will take.