More Asian Americans Filing For Bankruptcies

Posted on September 13, 2011 by Tim

A new report from the Institute for Financial Literacy shows that over the last five years (from 2006 to 2010), Asian Americans have had the largest increase in filings for bankruptcies, essentially doubling over the last five years. This is compared with Hispanics, which rose 33%, African Americans who saw a decrease of 26% in the same period, and Caucasian/White filings essentially remained constant through the period. It’s another sign that Asian Americans were and continue to be especially hard hit by the recent economic downturn.

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About Tim

I'm a Chinese/Taiwanese-American, born in Taiwan, raised on Long Island, went to college in Philadelphia, tried Wall Street and then moved to the California Bay Area to work in high tech in 1990. I'm a recent dad and husband. Other adjectives that describe me include: son, brother, geek, DIYer, manager, teacher, tinkerer, amateur horologist, gay, and occasional couch potato. I write for about 5 different blogs including 8Asians. When not doing anything else, I like to challenge people's preconceived notions of who I should be.
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