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US bankruptcies surge to 15-year high Recession alarms flash as filings outpace 2020 crisis

US bankruptcies 2025: US bankruptcy filings have surged to their highest level since 2020, with a 10.6% increase in the year ending September 30. Both consumers and businesses are experiencing significant financial strain, with small businesses particularly hard-hit by rising costs and economic pressures. Experts warn that this trend is likely to continue.