Distressed Borrowers Up 14% This Thanksgiving

Bankruptcies continued to increase on an annual basis this November, reflecting ongoing affordability constraints not limited to skyrocketing homeowners insurance and higher mortgage rates. Individual Chapter 7 bankruptcy filings totaled 22,886 last month, a 14% annual increase over Nov. 2023's 20,149 filings, according to bankruptcy data provider Epiq AACER’s latest report.