• An uptick in bankruptcy assistance among Generation X and Millennials signals a burgeoning debt crisis, overshadowing recent economic optimism, legal experts told Newsweek.
  • In contrast to recently issued positive economic data showing a 29 percent surge in consumer confidence since November, LegalShield’s December Consumer Stress Legal Index (CSLI) documents a relentless rise in financial duress, reaching a three-year peak as consumers seek legal help for bankruptcy and other legal assistance.
  • The data, drawn from over 35 million legal service requests, is forecasting a dip in that consumer confidence, and exposes a groundswell of fiscal challenges.
  • The trend, disproportionately impacting younger generations, points to a latent economic strain that macroeconomic figures may not fully capture, which hints at a potential credit reckoning on the horizon.

Source: endtimeheadlines.org