By Emma Court | MarketWatch
Expansion of health insurance to low-income people and consumer financial protections
Personal bankruptcy filings decreased by nearly 50% over the past six years.
The Affordable Care Act was among the likely factors that assisted with a big decrease — nearly 50% — in personal bankruptcy filings in the last six years, according to a Consumer Reports analysis.
Other factors, including new bankruptcy laws, a rebounding economy and tighter credit requirements, also likely helped with the reduction, with filings dropping from 1.54 million in 2010 to 770,846 last year.
There’s no way to know what made the biggest difference in that drop, since those filing for personal bankruptcy don’t state a specific reason for it.