BANKRUPTCY FILINGS HIT HISTORIC HIGHS
November 25, 2002
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New bankruptcies filed during the third quarter of 2002 and for the past 12 months broke records again, according to data released by the Administrative Office of the U.S. Courts. Bankruptcy cases for fiscal year 2002 totalled 1, 547,669, up 7.7 percent from the 1,437,354 bankruptcy filings for fiscal year 2001. Consumer cases, which make up
the majority of bankruptcy filings, also broke records with a total of 1,508,578, up 1.5 percent from the fiscal year 2001 filings.
Filings in the 3-month period ending Sept. 30, 2002, were 401,306, up 12 percent from the same period in 2001. This is the highest 3 month total in U.S. history.
