With the cost-of-living crisis worsening and inflation running rampant, how can Americans protect themselves from bankruptcy?
Bankruptcy filings jumped 12.2% from mid-2025 to mid-2026, according to U.S. Courts. Even more worryingly, it reflects a broader trend of bankruptcies rising every year since 2022. Bankruptcy filings have skyrocketed 60% from 2022 through today. It certainly doesn’t help that inflation has outpaced earnings for 93% of American workers three years running, per a 2026 Monster report.
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So what can you do? Make these five moves to prevent bankruptcy.