Why are bankruptcy inquiries rising?

Why you should care:

Bankruptcy filings spiked 14.2% by the end of 2024 with LegalShield inferring that inquiries by Americans are connected to concerns about new tariffs, mortgage worries, uncertainty in the housing market, consumer debt and rising interest rates.

LegalShield’s Consumer Stress Legal Index monitors roughly 150,000 calls monthly from people searching for legal assistance related to bankruptcy, foreclosure, and consumer finance.

How many bankruptcy filings are there currently in US?

By the numbers:

BankruptcyWatch.com, an online platform for automating bankruptcy operations, reported that so far in 2025 there have been 144,034 reported bankruptcy filings in the U.S. with an average of 10,288 weekly bankruptcy filings this year compared to 9,687 in 2024.