Archive

Archive for the ‘American Bankruptcy Institute’ Category

Consumer Bankruptcy Filings Down 8 Percent Through the First Half of 2011

July 6, 2011 Comments off

Consumer Bankruptcy Filings Down 8 Percent Through the First Half of 2011
Source: American Bankruptcy Institute

U.S. consumer bankruptcy filings totaled 709,303 nationwide during the first six months of 2011 (Jan. 1-June 30), an 8 percent decrease from the 770,117 total consumer filings during the same period a year ago, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC). The overall June consumer filing total of 119,768 represented a 5 percent decrease from the 126,270 filings recorded in June 2010.

“The drop in bankruptcies for the first half of the year shows the continued efforts of consumers to reduce their household debt, and the overall pull back in consumer credit,” said ABI Executive Director Samuel J. Gerdano.

The June 2011 filings did represent a 4 percent increase from the May 2011 consumer bankruptcy total of 114,803 filings. The percentage of chapter 13 filings for June was 28 percent, a one percent increase from May.

+ Annual and Quarterly U.S. Bankruptcy Statistics

About these ads
Follow

Get every new post delivered to your Inbox.

Join 938 other followers