Who is Filing Bankruptcy?

Who Is Filing Bankruptcy? A look at the 1.07 million Americans who filed bankruptcy in 2008. IODCID FEDERAL RESERVIG NOTE FF 95594731 A F6 ONUNDDSTATES OFAMERICA UNII STATES KISS FF 95594731 A FOR ALL DESTS, PUBLIC AND PRIVATE alan Lurkedo Cahal Treanurer of the Unind Si. ArhWSnar V Sentary ef the Treany. D. SERES D. KONE H UNDRE D DOLL RS The average American who filed bankruptcy last year was Caucasian, 35-44 years old and married; had a high school education; and made less than $30,000. The demographics of Americans filing bankruptcy in 2008: Econ 101 • High School/GED 38.5% S •Some College • Bachelor's Degree 12.3% • Associate Degree • Graduate Degree Primary School Female 29.4% 8.6% 52.6% 47.4% 5.3% 5.2% •None 0.7% Income Employment 60k and Above 8.1% • 50 - 60k 6.5% • A Employed 63.4% 40 - 50k 10.4% • Unemployed 13% • 30 -40k 16% • Self-Employed 9.9% • 20 -30k 21.9% • Retired 8.7% • A Less Than 20k 37.1% • Homemaker 4.2% • Student 0.9% . Age Other 3.2% 65 and Up 7.3% • Asian 3.6% -55-64 15.6% Latino 7.4% • 45 - 54 35 - 44 25 -34 • 18 - 24 26% Black 12.5% 29.4% S White 73.3% S 19.5% 2.2% Ethnicity Sources: Institute for Financial Literacy "2008 Annual Consumer Bankruptcy Demographic Report: American Debtors in a Recession" and USCourts.gov Gender Education