Consumer Payment Card News

Q3 Bankruptcy

During July, August and September, there were a record 542,022 consumer and business bankruptcy filings, a 37% increase over one-year ago, driven by new bankruptcy laws which took full effect in mid-October. Year-to-date consumer and business bankruptcy filings were up 24% to 1,782,643. Consumer bankruptcy filings continue to stay above the 1.5 million annual level, following a record of 1.58 million filed for the year ending September 30, 2004. According to the Administrative Office of the U.S. Courts, Americans filed 1,346,201 Chapter 7 petitions, and 429,316 Chapter 13 petitions.

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|_2. CHAPTER 7 FILINGS |
|_2. (Years Ended Sept 30) |
|_. 2001:| 1,014,137 |
|_. 2002:| 1,084,336 |
|_. 2003:| 1,177,292 |
|_. 2004:| 1,153,865 |
|_. 2005:| 1,346,201 |
|_2. Source: U.S. Courts |

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