BANKRUPTCY FILINGS REACH NEW CALENDAR YEAR RECORD IN 2003
February 25, 2004
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Bankruptcy filings in the federal courts broke a record during calendar year 2003, according to data released today by the Administrative Office of the U.S. Courts. Total bankruptcies filed in the 12-month period ending December 31, 2003, totaled 1,660,245, up 5.2 percent from the previous record of 1,577,651 bankruptcies filed in the 12-month period ending December 31, 2002.
The calendar year total for 2003, however, did not break the historic high for a 12-month period, which was reported for the 12-month period ending September 30, 2003, at 1,661,996. The overwhelming percentage of bankruptcy filings are non-business (personal) filings, totaling 1,625,208 in calendar year 2003, up 5.6 percent from the 1,539,111 personal bankruptcies filed in calendar year 2002.
