Consumer Payment Card News

Mar Bankruptcy

Americans made a stampede to Bankruptcy Court last month as passage of bankruptcy reform was inevitable. A record 165,000 filings were made during March, compared to 152,000 for March 2004. The 8.5% gain in filings reverses a steady decline in bankruptcy filings over the past two years. Bankruptcy filings declined about 4% for the full-year of 2004. In January 2005 filings dropped 13% and during February 2005 filings dived by 17% year over year. The steep rise in March is expected to continue through the fall of the year. The new bankruptcy law was signed by President Bush this week and will go into effect on October 17th.

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|_2. Monthly Filings Historical |
|_. 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 |
|_. Feb 05:| 103,457 |
|_. Mar 05:| 165,459 |
|_2. Source: CardData (www.carddata.com) |

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