Consumer Payment Card News

Sept Bankruptcy

Personal bankruptcy petitions in September set an all-time high, topping 200,000. It is expected that filings for the first two weeks of October may exceed 300,000. Filings for the week ending October 15th were 205,129. New bankruptcy reform laws took effect on October 17th. According to the National Bankruptcy Research Center (a/k/a/ Lindquist Consulting), bankruptcy filings industry-wide increased by approximately ten-fold in the week preceding the legislation’s effective date compared with typical levels. The September year-over-year increase was more than 70,000 filings. About 205,000 filings were made during September, compared to 155,836 for August and 127,664 one-year ago. In the first nine months of this year, there have been 1,324,385 personal bankruptcy filings.

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|_2. Monthly Filings Historical |
|_. 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 |
|_. Sep 05:| 204,863 |
|_2. Source: CardData (www.carddata.com) |

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