Consumer Payment Card News

Bankruptcy

Bankruptcy filings have now risen to about 14,000 filings per week compared to approximately 8,000 filings per week six-months ago. One-year ago filings averaged 35,000 per week level, prior to the full implementation of the “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.” During July filings neared 63,000, the highest level since October when the reforms went into effect. The number of filings in the first quarter is the lowest number of quarterly filings in the last 20 years.

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|_2. MONTHLY FILINGS |
|_. Nov 05: | 21,457 |
|_. Dec 05: | 32,480 |
|_. Jan 06: | 34,411 |
|_. Feb 06: | 39,636 |
|_. Mar 06: | 42,724 |
|_. Apr 06: | 44,989 |
|_. May 06: | 43,780 |
|_. Jun 06: | 54,937 |
|_. Jul 06: | 62,986 |
|_2. Source: CardData (“www.carddata.com”:http://www.carddata.com) |

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