Summary
A survey shows that many Americans are facing bankruptcy due to high living costs and tariffs. Almost half of the surveyed individuals blame the cost of living, followed closely by tariff expenses, as primary reasons for their bankruptcy. The survey also indicates that many households have limited financial savings, making them vulnerable to income loss.
Key Facts
- A survey was conducted with 1,421 U.S. adults about personal bankruptcies.
- Nearly half of bankruptcy cases are due to the cost of living and tariffs.
- Non-business bankruptcy filings rose by 10.8% between September 2024 and September 2025.
- There were 549,577 personal bankruptcies in 2025.
- 40.8% of respondents could only manage expenses for three months without income.
- Most people (89.3%) eventually recover financially from bankruptcy, but it often takes up to five years.
- 97.8% said bankruptcy still affects their financial health and access to credit.
- Recent tariff policies, introduced in 2025, were found unconstitutional and repealed in 2026.
