Do Figures Speak The Truth?
What’s one to make of this recent bit of news that total bankruptcy filings jumped by 9.8% in the third quarter compared to the prior quarter, but, remain well below year ago levels? Are we supposed to believe that many Americans have suddenly found themselves to be flush with money so that they can be finally free of creditor bondage?
According to recent data released by Cardweb.com, during the third quarter total filings hit 171,146 compared to 155,833 for the second quarter and 542,002 one-year ago. While this was great news, it was a bit tempered with another foreboding news. Forecasts predict that there could be an increase in U.S. corporate bankruptcies by 17% in 2007. Well, we can probably take consolation in the fact that at least for now things are fine; or are they? Just a niggling doubt that refuses to go away: Are these figures telling the truth?
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