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Q1 Bankruptcy Tue, Jun 1, 2004 AddThis Social Bookmark Button

By Jennifer Dewalt, CardTrak.com

During the first three months of this year, there were 407,572 consumer and business bankruptcy filings, which was down slightly from 1Q/03's 412,968 filings. However, year-to-date consumer and business bankruptcy filings were up 2.7%. Consumer bankruptcy filings continue to stay above the 1.6 million annual level, following a record of 1.66 million filed for the year ending September 30, 2003. According to the Administrative Office of the U.S. Courts, a record number of filings took place in the quarter ending June 30, 2003, when 440,257 filings were made. During the 12-month period ending March 31, 2004, Americans filed 1,176,654 Chapter 7 petitions, and 465,878 Chapter 13 petitions. For the first quarter, a total of 290,689 Chapter 7 filings and 112,101 Chapter 13 filings were made.

CHAPTER 7 FILINGS
(Years Ended March 31)
1999:1,017,049
2000:908,802
2001:904,397
2002:1,059,777
2003:1,135,436
2004:1,176,654