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Wednesday, 4th June 2008

Bankruptcy Filings Up in March

Bankruptcy Filings Up in March
Source: U.S. Courts

Bankruptcy filings in the federal courts for the 12-month period ending March 31, 2008, exceeded 900,000, according to statistics released today by the Administrative Office of the U.S. Courts. The 901,927 bankruptcy cases filed represent a 30 percent increase over the 695,575 cases filed in the 12-month period ending March 31, 2007.

After an initial drop in bankruptcy filings following the October 17, 2005, implementation date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), filings have risen gradually. Calendar year 2007 filings saw a 38 percent increase. September 2007 filings were the highest of any previous 12-month period since December 2006.

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