Nellie Mae Corp., a student-loan outfit, says a survey of its applicants finds one in every four students between 18 and 25 has at least four credit cards. With credit plentiful, Americans borrowed more. And more Americans filed for bankruptcy. Thanks to the strong economy, filings have fallen for the past two years. They probably will rise this year.
Creditors say the stigma of filing for bankruptcy is gone.
Consumer groups say creditors are too quick to lend. America isn't a nation of deadbeats. Many more could do so with a little strategic planning beforehand. Here's one example. Most opt for the first.