October 2009 Consumer Bankruptcy Up 28 % Over October 2008
The 135,913 consumer bankruptcies filed in October 2009 represent a 27.9 % increase over the October 2008 monthly total of 106,266, according to the American Bankruptcy Institute (ABI), from the National Bankruptcy Research Center data. The October 2009 consumer filings represent an 8.9 % increase from the September 2009 total of 124,790. Chapter 13 filings comprised 28.5 % of all consumer cases filed during October, a slight increase over the September rate.
According to ABI Executive Director Samuel J. Gerdano, "The nearly 9 % increase in consumer bankruptcy filings in October, together with a 7 % jump reported in business cases, demonstrates the sustained stress on the U.S. economy." ABI forecasts that total bankruptcies this year will exceed 1.4 million, the highest number since 2005.
Could your life improve from filing for consumer bankruptcy? Before you take any action, you owe it to yourself and your family to talk to a qualified bankruptcy attorney at Legal Helpers. Call them now at 800-260-1402. Improve your personal financial picture; call Legal Helpers today.
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