The number of Americans considering bankruptcy is at its highest level since before the pandemic, as reported by Gallup. Fifty-three percent of respondents believe their financial situation is getting worse, marking the highest rate since the question was first asked in 2001.
Meanwhile, 38% think their financial situation is getting better, and 8% say it remains unchanged.
Consumers are reportedly contacting lawyers for bankruptcy advice, given that they’re having difficulties paying bills. Heavy consumer debts, inflation, and higher interest rates are straining Americans’ finances, experts state.
Experts advise filing for bankruptcy sooner rather than later to protect assets from creditors.
