During July, August and September, there were a record 542,022 consumer and business bankruptcy filings, a 37% increase over one-year ago, driven by new bankruptcy laws which took full effect in mid-October. Year-to-date consumer and business bankruptcy filings were up 24% to 1,782,643. Consumer bankruptcy filings continue to stay above the 1.5 million annual level, following a record of 1.58 million filed for the year ending September 30, 2004. According to the Administrative Office of the U.S. Courts, Americans filed 1,346,201 Chapter 7 petitions, and 429,316 Chapter 13 petitions.
| CHAPTER 7 FILINGS |
|---|
| (Years Ended Sept 30) |
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| 2001: | 1,014,137 |
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| 2002: | 1,084,336 |
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| 2003: | 1,177,292 |
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| 2004: | 1,153,865 |
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| 2005: | 1,346,201 |
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| Source: U.S. Courts |
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