US bankruptcy filings for 2020 hit their lowest level since 1986 as a flood of government support programs offset at least temporarily the full brunt of the coronavirus pandemic and a related recession, Epiq AACER reported on Friday. Read MoreGovernment unemployment insurance, business loans and other programs ended up replacing much of that lost income, pushing savings to record levels and keeping households and businesses afloat -- at least for now. A further $900 billion recently approved by Congress may continue to push a full reckoning down the road. Subscribe to Our Newsletter Subscribe to our newsletter and stay updated on the latest developments and special offers! Though many households used government stimulus or increased unemployment benefits to pay down debts, for example, others are wracking up obligation by delaying rent and mortgage payments.

Source: Standard Digital January 06, 2021 08:15 UTC