Last month, consumers resorted to bankruptcy in numbers that haven’t been seen in two years. On a month-over-month basis, filings soared 40 percent.

Consumers and businesses filed 81,590 new bankruptcy cases during March of this year. That was the most filings since March 2015, when there were 81,693.

Total bankruptcies last month jumped from February 2017, when there were 58,336 filings. Activity also accelerated compared to 78,372 in March 2016.

Source: Mortgage Daily