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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (50422)	1/20/2006 12:24:47 PM
From: SHAWING	Respond to of 110194

John, "Biggest jumps appear to be around 1996-7 and now in 2005." I do believe the recent jump in filings (2005) is due to the fact that many that were on the fence and probably would have filed in the near future, did so as not to have been subject to the stricter laws. JMHO. SHA

To: John Vosilla who wrote (50422)	1/20/2006 12:45:47 PM
From: GraceZ	Read Replies (3) \| Respond to of 110194

I remember advising more than one person to go on the "envelope system" back then. Let's face it, a lot of individuals cannot manage credit in any amount. They never prepare for the worst case scenario, so when it hits they default. I think you'll also find a very high correlation between divorce and BK. Maybe there were money pressures leading up to a marriage breakdown, but after the divorce all financial discipline goes completely out the window as people battle over children and assets. They do destructive things like go out and purposely run up the credit cards to the limit in order to hurt the other person. I've seen warring couples completely destroy the assets that they were fighting over and then both declare BK when the dust settles.