The past several months have seen our industry grapple with a worldwide pandemic, which has caused unprecedented levels of unemployment and economic uncertainty in the United States. To predict what is coming, it is first necessary to try and understand the reasons why consumer filings may be lagging this year.
Logic dictates that a decrease in bankruptcy filings would be an indicator of economic strength and stability. It could also be assumed that a decrease in bankruptcy filings would coincide with a low unemployment rate. But, that doesn't seem to be the case here.