Source(s)

Sullivan T, Thorne D, Warren E. Generations of Struggle. AARP. June 2008.

Calculation(s) by Book of Odds Based On

Sullivan T, Thorne D, Warren E. Generations of Struggle. AARP. June 2008.

Linfield LE , Gillman S. IFL: Annual Consumer Bankruptcy Demographics Report 2007 . The Institute for Financial Literacy, Inc. June 2008.

Bankruptcy Statistics: Calendar Year by Chapter [Internet]. US Courts. [accessed July 17, 2009]. Available from: http://www.uscourts.gov/bnkrpctystats/statistics.htm#calendar

Definitions

A Personal Bankruptcy is Bankruptcy categorized by the U.S. courts as a non-business bankruptcy; the debtor in a non-business bankruptcy is generally either an individual or a
family farm; data from the U.S. Administrative Office of the Courts subdivides bankruptcies into business and non-business;
A filer includes all debtors, whether the person filed for bankruptcy alone or as part of a married couple which files a joint bankruptcy petition.

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Odds Statement provided by Book of Odds Inc., http://www.bookofodds.com/content/view/full/572596 (Accessed: )

Rounding Rules

Odds more likely than 1 in 10, such as 1 in 3.42, are rounded to three significant digits. Odds less likely than 1 in 10, such as 1 in 420.4, are rounded to four significant digits. Trailing zeros after the decimal point are dropped for readability, even though they may still be significant.

Odds you'll see: 1 in 4.26; 14.5; 143; 5,230; 433,200

Odds you won't see: 1 in 2.412; 63.042; 425,242c