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Going Bankrupt Is A Booming Business
The rise in American bankruptcies continues with over 200 000 petitions in 1971, up 3.6 percent from 1970. A Northwestern National Life survey notes bankruptcies have surged sixfold since 1950, driven by easy credit, consumer pressures, and insufficient financial education. most debtors are ordinary families facing medical bills, layoffs, or high loan obligations.
MENTIONED IN THIS ARTICLE
Family Economics Bureau
Northwestern National Life Insurance Co