The Stark Facts of Race and Bankruptcy

The Woodstock Institute in Chicago has a new report entitled, Bridging the Gap II: Examining Trends and Patterns of Personal Bankruptcy in Cook County’s Communities of Color. The results are ugly for anyone who believes in equal access to economic opportunities and justice. It should be required reading for anyone working with bankruptcy and credit. The basic findings from Cook County:

• Personal bankruptcies are concentrated in African-American communities.
• African-Americans are much more likely to file Chapter 13.
• Women make up a larger share of individual bankruptcy filers, and a dramatically larger share in African-American communities, than men do.

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