As anticipated, “U.S. bankruptcy filings surged by 18% in 2023 on the back of higher interest rates, tougher lending standards and the continued runoff of pandemic-era backstops…,” reports Dan Burns for Reuters.

Top analysts anticipate the climb in consumer and commercial bankruptcy filings to continue in 2024 as well, due to “…the runoff of pandemic stimulus, increased cost of funds, higher interest rates, rising delinquency rates, and near historic levels of household debt.”