Consumer Payment Card News

Bankruptcy Pace

Bankruptcy filings took a slight turn south in August but still are averaging about 14,000 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 August filings dropped to 57,000, the second highest level since October when the reforms went into effect. The number of filings in the first quarter of 2006 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 |
|_. Aug 06: | 57,412 |
|_2. Source: CardData (www.carddata.com) |

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