Well according to some statistic analysis found at Riverside CA Lawyers it appears that over 25 years of data shows this to be a little true. Should we be concerned? Not yet. What this bankruptcy filing graph shows is that in 1986 there were 1.8 out of 1000 people filing. That is less than a fifth of a percent. Looking at the numbers on 2011 show that about 5 of every 1000 were filing. Still less than a percent.
It is still increasing. Both population and the number of bankruptcy petitions are steadily raising. That is to be expected, however, this data shows that Bankruptcy is getting more common.
So what would happen if bankruptcy filing rates raise to one percent of the population? How would this effect the economy? Or is it systemic to a weak economy?