BANKRUPTCY FILINGS CONTINUE TO BREAK RECORDS
February 14, 2003
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Bankruptcy filings continue to break historic records, according to data released today by the Administrative Office of the U.S. Courts. Total bankruptcies filed in calendar year 2002 totaled 1,577,651, up 5.7 percent from the 12 month period ending Dec. 31, 2001, when filings reached 1,492,129. Non-business filings accounted for the overwhelming majority, 97.6 percent, of all bankruptcy cases filed in calendar year 2002.
Non-business filings increased again in 2002, totaling 1,539,111, while business filings fell by 1,559 cases. The number of bankruptcies filed during the last three months of calendar year 2002 (Oct. 1 – Dec. 31, 2002) was 395,129. That’s up 8.3 percent from the 364,921 filings for the three month period ending Dec. 31, 2001.
