Consumer Payment Card News

Bankruptcy Pulse

The year-on-year growth in the number of U.S. consumer bankruptcy filings downshifted in August but represented the fifth highest month among the past 12 months. In August, filings rose at a 24% annual clip, compared to a 34% annual pace in the prior month. According to the American Bankruptcy Institute and the National Bankruptcy Research, consumer filings totaled 119,874 in August, compared to 126,434 in July and 96,413 in August 2008. Chapter 13 filings constituted 28.3% of all consumer cases in August, the same as July. According to the Administrative Office of the U.S. Courts, total filings in the second quarter of this year hit 381,073, compared to 330,477 for the first quarter and 276,510 one-year ago. Bankruptcy filings for the 12-month period ending June 30th, were up 35% over bankruptcy filings for the 12-month period ending June 30th, 2008. Consumer filings for the 12-month period ending June 30th, totaled 1,251,294, up 34% from the same period one-year ago.

         BANKRUPTCY FILINGS
          Aug 08:    96,413
          Sep 08:    88,663
          Oct 08:   106,266
          Nov 08:    99,925
          Dec 08:    84,926
          Jan 09:    88,773
          Feb 09:    98,344
          Mar 09:   121,413
          Apr 09:   125,618
          May 09:   124,838
          Jun 09:   116,345
          Jul 09:   126,434
          Aug 09:   119,874
   Source: ABI/NBKRC; CardData.com

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