There are a few important questions that need to be asked (and answered) before you decide to file for bankruptcy this September. Dragon Claws/Getty Images

The numbers tell a stark story about Americans' current financial struggles. Bankruptcy filings increased by 11.5% for the 12 months ending on June 30, 2025, according to data released in late July by the Administrative Office of the U.S. Courts, with individual filings jumping by 11.8% in June alone compared to the previous year. And, the total bankruptcy filings reached 276,126 cases during the first half of 2025 alone — a 10% increase from the same period in 2024. These numbers aren't just statistics, either. They represent hundreds of thousands of people who are grappling with overwhelming debt in today's tough economic l

See Full Page