Bankruptcy filings were up 11.5% in May over the previous month, according to the American Bankruptcy Institute relying on statistics published by the National Bankruptcy Research Center. May 2007 saw an increase in filing of approximately 51% over May 2006.
“Personal bankruptcies continue to be more volatile this year than in 2006,” said Samuel J. Gerdano, ABI Executive Director. “Overall, consumer bankruptcies are higher than last year, but still well below the levels of 2004-05.”
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