BANKRUPTCY FILINGS BREAK ANOTHER RECORD
May 15, 2003
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More Americans filed for bankruptcy during the first quarter of 2003 than in any other previous quarter in history, according to data released today by the Administrative Office of the U.S. Courts. The 412,968 new cases filed during the first three months of 2003 are up 9.0 percent from the same period in 2002. Overall, bankruptcy filings rose 7.1 percent in the 12-month period ending March 31, 2003. Bankruptcy filings rose from 1,504,806 in the 12-month period ending March 2002 to 1,611,268 in the same 12-month time period in 2003. The previous highest total of filings for any 12-month period was in the 12-month period ending Dec. 31, 2002, with a total of 1,577,651. Total bankruptcy filings first broke the 1.5 million mark in the 12-month period ending March 31, 2002.
