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Bankruptcy Record

Bankruptcy filings hit a record 395,129 for the final three months of 2002. For all of 2002, total bankruptcies filed were 1,577,651, up 5.7% from 2001. Previously, the largest number of bankruptcies filed in a single 12-month period was in the period between October 1, 2001-September 30, 2002 when it hit 1,547,669 filings. According to the Administrative Office of the U.S. Courts, of the total number of bankruptcy filings for the 12-month period ending December 31, 2002, there were 1,109,923 Chapter 7 filings, up 5.2% from the 1,054,975 Chapter 7 filings in the same period in 2001. The next largest group of filings was Chapter 13 filings at 455,877, up 7.2% from the 425,292 filings in calendar year 2001.

               ANNUAL FILINGS BY BANKRUPTCY CHAPTER
                  Year      Chap. 7      Chap. 13
                  2002    1,109,923       455,877
                  2001    1,054,975       425,292
                  2000      859,220       383,894
                  1999      927,074       382,214
                  1998    1,035,696       397,619
                  1997      989,372       403,025

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