BANKRUPTCY FILINGS UP 30 PERCENT
February 5, 2008
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The American Bankruptcy Institute reports that U.S. consumer bankruptcy filings increased more than 30 percent nationwide in January from the same period a year ago, relying on data from the National Bankruptcy Research Center (NBKRC). The data showed that about 40% of bankruptcies are Chapter 13 filings.
The filings were up for the previous year, but the data showed that the overall January consumer filing totals were flat from December. ABI Executive Director Samuel J. Gerdano stated that with more adjustable rate mortgages adjusting next year, it may lead to more bankruptcies.
Bankruptcy Filings Up 30 Percent
