From Housing Justice:
When faced with foreclosure after the financial crisis of 2008, millions of U.S. homeowners filed bankruptcy cases. In the 12-month period ending December 31, 2008, there were 1,074,225 non-business bankruptcy filings. This was a significant increase from 822,590 non-business filings in 2007, and nearly twice the 2006 filings of 597,965. The figures were worse in 2009, with 1,412,838 non-business filings. In 2010, the filings continued to increase with 1,536,799 non-business filings. The first decrease was in 2011, with 1,362,847 new filings. In 2012, the number of new filings was 1,181,016. In the five years after the financial crisis, 2008 – 2012, over 6.5 million Americans (6,567,725) filed for bankruptcy. The total is likely well over ten million because many of the filings were joint filings by spouses.
