Payment Card News

Aug Bankruptcy

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Personal bankruptcy petitions in August soared by nearly 24% from last year and were up about 15% from the prior month. It is expected that filings will remain high through the rest of this year as new bankruptcy laws will take full effect on October 17th. The August year-over-year increase was more than 30,000 filings. About 156,000 filings were made during August, compared to 125,783 for August 2004 and 136,074 in the prior month. In the first eight months of this year, there have been 1,119,522 personal bankruptcy filings.

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|_2. Monthly Filings Historical |
|_. Aug 04:| 125,783 |
|_. Sep 04:| 127,664 |
|_. Oct 04:| 133,404 |
|_. Nov 04:| 116,952 |
|_. Dec 04:| 113,957 |
|_. Jan 05:| 99,705 |
|_. Feb 05:| 103,457 |
|_. Mar 05:| 165,459 |
|_. Apr 05:| 170,130 |
|_. May 05:| 142,915 |
|_. Jun 05:| 145,946 |
|_. Jul 05:| 136,074 |
|_. Aug 05:| 155,836 |
|_2. Source: CardData (www.carddata.com) |

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