First Nine Months of the Year See Consumer Bankruptcy
Filings Passing the One Million Mark-No Relief in Sight
According to the American Bankruptcy Institute (ABI), consumer bankruptcies totaled 1,046,449 for the first nine months of 2009. This dubious milestone marks the first time that filings have run roughshod past the 1 million mark during the first three quarters of a calendar year since the 2005 bankruptcy overhaul took effect. This data comes from the National Bankruptcy Research Center.
These bankruptcy filings from the first three quarters of the year are the highest since the 1,350,360 consumer filings through the first nine months of 2005. Filings for the month of September 2009 reached 124,790, which represents a 41% increase over the same month in 2008, where the number of filings was 88,663.
The September 2009 consumer bankruptcy filings also represent a four percent increase over the 119,874 personal bankruptcy filings of just one month earlier and are the fourth highest single month since the 2005 change in the laws.
Chapter 13 bankruptcy filings comprised 28% of all consumer cases in September 2009, the same as the August 2009 rate.
If you find yourself needing to file for consumer bankruptcy, call a Legal Helper attorney for experience and knowledge that you can trust. Call toll-free 800-260-1402 today for a free evaluation.
Subscribe to this comment's feed
