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Surge in US Bankruptcy Filings Predicted to Continue in 2024
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US bankruptcy filings surged by 18% in 2023, driven by higher interest rates and tougher lending standards. Commercial Chapter 11 business reorganization filings increased by 72%, while consumer filings rose by 18%. The rise in bankruptcy case counts is expected to continue in 2024.
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How are higher interest rates affecting the ability of businesses and households to repay debt?
How might the surge in bankruptcy filings impact the overall financial stability of the US?
What measures can be taken to mitigate the impact of bankruptcy filings on the economy?
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