Over the past decade, ProPublica reports, the number of people filing for bankruptcy has been on the rise in the U.S., with "the number of consumer bankruptcies filed each year has ranged from about 800,000 to 1.5 million."
Now, with the long-term financial impact of the coronavirus pandemic weighing heavily on many Americans, Last Week Tonight host John Oliver noted, "Many worry that once the current pandemic assistance stops, more and more people will need the type of help that bankruptcy offers."
But how exactly does personal bankruptcy work? In a segment on his Sunday show, Oliver took a deep dive into how bankruptcy works, the reasons people file for it, how complicated the legal process can be, the fact that there is more than one kind of personal bankruptcy (there's two: Chapter 7 and Chapter 13), and the consequences of filing for it â€" including social stigma. Read more...
More about Bankruptcy, John Oliver, Culture, Talk Show, and Work Life
Source : http://feeds.mashable.com/~r/Mashable/~3/mHcb5IbLNYg/
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