BANKRUPTCY FILINGS UP IN 2007
July 9, 2007
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The number of consumer bankruptcies filed during the first three months of 2007 jumped to 187,361, a 66 percent increase compared with the first quarter of 2006 and a 9 percent increase compared with the fourth quarter of 2006, according to the Administrative Office of the U.S. Courts. In all of 2006, 112,685 new cases were filed.
“New cases are being filed at much higher rates than a year ago, as more households feel the stress of high debt burdens, a trend that is likely to continue,” said the American Bankruptcy Institute’s executive director, Samuel J. Gerdano.
SOURCE: Michelle Singletary, Washington Post
For full story: http://www.washingtonpost.com/wp-dyn/content/article/2007/07/04/AR2007070401372.html
BANKRUPTCY FILINGS UP IN 2007
