BANKRUPTCY FILINGS COULD RISE 25-35% FOR 2005
November 7, 2005
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Standard & Poor’s believes the new bankruptcy law could see a rise of 25-35 percent in bankruptcy filings this year, Acxess News reported on Saturday. Due to the change in law, S&P believes the increase in bankruptcy filings could cause total filings to surpass 2 million for 2005. This is a sharp contrast from 2004, when the 1.56 million in total filings was 3.8 percent lower than the record amount filed in 2003.
