Payment Card News

Bankruptcy Beat

694 0

Bankruptcy filings cooled-off in November, but are still on course to top 1.4 million filings by year-end. The 112,152 consumer filings in November represented a decrease of 18% from the 135,913 filings registered in October, according to the American Bankruptcy Institute, relying on data from the National Bankruptcy Research Center. Despite the drop from the previous month, the November filings represented a 12% increase over the 99,925 consumer filings in November 2008. Chapter 13 filings constituted 29% of all consumer cases in November, unchanged from the October rate. According to the Administrative Office of the U.S. Courts, total filings in the second quarter of this year hit 381,073, compared to 330,477 for the first quarter and 276,510 one-year ago. Bankruptcy filings for the 12-month period ending June 30th, were up 35% over bankruptcy filings for the 12-month period ending June 30th, 2008. Consumer filings for the 12-month period ending June 30th, totaled 1,251,294, up 34% from the same period one-year ago.

      BANKRUPTCY FILINGS
       Nov 08:    99,925
       Dec 08:    84,926
       Jan 09:    88,773
       Feb 09:    98,344
       Mar 09:   121,413
       Apr 09:   125,618
       May 09:   124,838
       Jun 09:   116,345
       Jul 09:   126,434
       Aug 09:   119,874
       Sep 09:   124,790
       Oct 09:   135,913
       Nov 09:   112,152
Source: ABI/NBKRC; CardData.com

Leave A Reply