Payment Card News

Jan Bankruptcy

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Consumer bankruptcy filings during January fell to their lowest level in four years, reflecting a 13% decline in year-ago levels. Over the past year, bankruptcy is tracking nearly 4% below 2003 levels, ironically at a time when bankruptcy reforms may finally pass Congress. During January, 99,705 consumer Chapter 7 and 11 filings were made, compared to 114,737 for January 2004. During the fourth quarter, there were 364,313 consumer bankruptcy filings, compared to 393,348 for 4Q/03. Year-to-date bankruptcy filings were 1,552,967. The decline for full-year 2004 is the first drop in consumer bankruptcy filings since full-year 2000.

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|_2. Monthly Filings Historical |
|_. Jan 04:| 114,737 |
|_. Feb 04:| 124,719 |
|_. Mar 04:| 152,567 |
|_. Apr 04:| 145,543 |
|_. May 04:| 136,509 |
|_. Jun 04:| 127,742 |
|_. Jul 04:| 133,390 |
|_. Aug 04:| 125,783 |
|_. Sep 04:| 127,664 |
|_. Oct 04:| 133,404 |
|_. Nov 04:| 116,952 |
|_. Dec 04:| 113,957 |
|_. Jan 05:| 99,705 |
|_2. Source: CardData (www.carddata.com) |

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