Sunday, October 25, 2009

Bankruptcy Filings Top One Million

The Clerk of the US Bankruptcy Court has announced that more than 1 million consumer bankruptcy cases have been filed this year.  This is the first time since the 2005 bankruptcy amendments took effect that consumer filings have exceeded 1,000,000 cases.

The American Bankruptcy Institute, of which I am a member, reported that 1,046,449 cases were filed through the first nine months of the year.  That's the most filings for the first three calendar quarters since 2005, when there were 1,350,360 consumer filings through the first nine months of that year.

In September 2009, there were 124,790 consumer filings, a 41 percent increase from the 88,663 consumer filings in September 2008.  The September 2009 total also represented a 4 percent increase over the 119,874 filings in August 2009, and it is the fourth highest single month total since the 2005 amendments.

Warmest Regards,

Bob Schaller

Your Bankruptcy Advisor Blog
By: Attorney Robert Schaller (Bob's bio) of the Schaller Law Firm

Bob is a member of the National Bankruptcy College Attorney Network, American Bankruptcy Institute and the National Association of Consumer Bankruptcy Attorneys.

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