Consumer Bankruptcy Soars


According to the American Bankruptcy Institute, consumer bankruptcy filings increased almost 40% in 2007.


Data from the National Bankruptcy Research Center showed 801,840 filings between Jan. 1 and Dec. 31, up from 573,203 filings recorded during the same period in 2006. ABI Executive Director Samuel J. Gerdano attributed the spike in filings to the mortgage crisis.

Source: American Bankruptcy Institute, www.abiworld.org .

SPONSORED QUIZ

How well do you know small business?

There are over 30 million small businesses in the U.S., and many of them are optimistic in their outlook. Are you familiar with the obstacles and opportunities they are facing? Test your small business acumen with this quiz sponsored by Chase Ink®.

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.