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The number of U.S. consumer bankruptcy filings in February neared 100,000, rising 29% from one-year ago and 11% sequentially. The increase is running under the widely held projections of a 35% gain for 2009. According to the American Bankruptcy Institute and the National Bankruptcy Research, consumer filings totaled 98,344 in February. Chapter 13 filings constituted 30.2% of all consumer cases in February, a 2.6% increase from January. According to the Administrative Office of the U.S. Courts bankruptcy filings jumped 34% in the third quarter compared to the year ago period, and increased 5% sequentially. According to CardData (www.carddata.com) there were 290,000 filings in the fourth quarter. In a recent American Bankruptcy Institute poll 65% of respondents predicted that bankruptcies in 2009 would increase by at least 35% over the nearly 1.1 million cases filed in 2008. Fifty-three percent of respondents predicted that filings would increase by 35% or more while 12% thought that filings would increase by about 35%.
BANKRUPTCY FILINGS
Jan 08: 66,050
Feb 08: 76,120
Mar 08: 86,165
Apr 08: 92,291
May 08: 91,214
Jun 08: 82,770
Jul 08: 94,124
Aug 08: 96,413
Sep 08: 88,663
Oct 08: 106,266
Nov 08: 99,925
Dec 08: 84,926
Jan 09: 88,773
Feb 09: 98,344
Source: ABI/NBKRC; CardData.com
