Personal Bankruptcy Filings Break
Record
for 4th Week Straight
Soaring Before Bankruptcy Law Takes Effect
TONY PUGH / Knight Ridder Newspapers 12oct2005
[More articles and data below]
WASHINGTON - For the fourth straight week, U.S. personal-bankruptcy filings hit an all-time weekly high as consumers mired in debt rush to file before next Monday, when a new law makes it tougher to get federal debt relief.
Nearly 103,000 Americans filed for bankruptcy in the week that ended Friday, up from the previous weekly high of 68,287, according to figures from Lundquist Consulting Inc. of Burlingame, Calif., a financial-services advisory firm.
Typically, bankruptcy filings were about 30,000 a week.
The deluge has swamped bankruptcy lawyers across the country and forced many to turn away customers. Washington lawyer Scott Arnopol said he was handling more than twice as many cases as usual and was trying not to turn anyone away.
"This is like April 15 with tax returns. It's the only analogy I can think of," Arnopol said. "We're trying to file these cases as fast as we finish them. Normally we have a five-day turnaround for these petitions; now we're doing them in 24 hours."
The rush is intended to beat Monday's enactment of new eligibility limits for filing under Chapter 7 of the bankruptcy code, which allows those in fiscal trouble to erase their debts after forfeiting their assets.
Under the new law, only bankruptcy petitioners who earn less than the median income in their states are eligible to file under Chapter 7. Those who earn more and can repay at least $6,000 over five years can file only under a Chapter 13 debt reorganization plan, which requires some repayment.
The law would force about 10 percent of debtors to seek Chapter 13 debt relief instead of Chapter 7 protection, studies have found. As a result, creditors would net another $1 billion to $4 billion in debt repayments over five years, according to similar studies.
The law also requires filers to submit more paperwork, such as tax returns and paycheck stubs, and to get credit counseling at their own expense within six months of applying.
To a lesser extent, the law also makes it tougher to file for commercial bankruptcy by giving companies that seek debt protection less time to decide whether to assume or reject leases. They'll also have less discretion in deciding whether to propose reorganization plans and will be required to have more cash available to pay utilities and suppliers in order to keep operating.
As a result, business bankruptcy filings also have accelerated. Notable companies that filed recently include Northwest and Delta airlines and auto-parts maker Delphi.
One group that may not be able to file before the new restrictions take effect are destitute Hurricane Katrina survivors. Many are tending to more immediate concerns such as relocating, finding jobs, reconnecting with family members and recovering from injuries.
It probably will be one to three years before Katrina victims make a noticeable dent in the bankruptcy caseload, said law professor Robert Lawless of the University of Nevada, Las Vegas, who's studied bankruptcy filings after major hurricanes.
"There's always a rather significant delay from the onset of problems to the actual bankruptcy filing, so it doesn't surprise me at all that we don't immediately see" a large number of hurricane victims in bankruptcy court, he said.
- For information about the new bankruptcy law online, go to the U.S. Trustee Program at www.usdoj.gov/us.
- For the list of credit counselors approved by the Justice Department, go to www.usdoj.gov/ust/bapcpa/ccde/cc(underline)approved.htm.
source: http://www.mercurynews.com/mld/mercurynews/news/12885260.htm 13oct2005
Bankruptcy Changes Spur Local Filings
But Many Won't Notice Much Difference
MICHELLE MAHOUFI / Shreveport Times 13oct2005
With changes to the bankruptcy law to go into effect Monday, local residents are rushing to beat new provisions that will make it more difficult to erase debts.
But in northwest Louisiana, those new rules may not make much of a difference.
That's because half of the households in the area have incomes below the state median, the cutoff point for the new "means test" used to determine who can wipe out their debts under Chapter 7 and who must enter into a Chapter 13 repayment plan.
"Most people who file Chapter 7 around here will still be able to file Chapter 7 in two weeks," said Kevin Molloy, a board certified consumer and business bankruptcy specialist with Simon, Fitzgerald, Cooke, Reed & Welch.
That's assuming bankruptcy Judge Stephen Callaway approves a filer's Chapter 7 request.
"In our district, it's not up to what they want to do. It's up to what our bankruptcy judge tells them to do," said Susan Beal, director of the LSUS Center for Business and Economic Research. "Our district has always had a comparatively higher percentage of Chapter 13 filings to Chapter 7."
Nonetheless, the looming deadline has spurred a jump in filings, and attorneys report at least a doubling of caseloads in the last few weeks. Personal bankruptcy filings in northwest Louisiana hit their highest level of the year in August with 488 filings, the latest figures available. That's a 26 percent increase over the same time last year.
"We're getting hit with everything but the kitchen sink right now," said Barry Dunford, clerk of court for the U.S. Bankruptcy Court's western division of Louisiana. "Everybody is trying to beat that deadline."
Some 276 cases were filed Monday — a federal holiday, no less — in the western district that includes Shreveport, Monroe, Alexandria, Lake Charles and Lafayette. That's nearly quadruple the daily average.
"Right now people are trying to get the benefits of the current law, both in cost and ease of filing," Molloy said.
After Monday, filers will be required to receive credit counseling, although that provision has been temporarily waived for debtors in Louisiana and south Mississippi due to the hurricanes.
The new rules will require more paperwork for filers and lawyers, which will likely lead to higher attorney fees. Clients currently pay about $500 to $1,200 in attorney fees for Chapter 7 and $1,850 for Chapter 13. Filing fees for Chapter 7 will also increase from $209 to $274. Chapter 13 filing fees will drop from $194 to $189.
Potential filers have until midnight Sunday to beat the changes. The courthouse will be closed this weekend, but petitions can be filed electronically.
| What
it means
The looming changes mean higher costs to file for bankruptcy protection. But the credit counseling requirement has been temporarily waived for Louisiana residents. And many local filers won't be affected by the new "means test" because their incomes are too low. Bankruptcy changes New restrictions on bankruptcy filings take effect Monday. Here's what to expect: Tighter income limits. If your income exceeded the state's median income during the previous six months you may be ineligible for Chapter 7 bankruptcy. In Louisiana, the median income is $30,646 for one person, $38,017 for a family of two, $45,732 for a family of three, $51,402 for a family of four. Add $6,300 for each additional individual. If you can pay at least $100 a month toward debts after certain expenses are deducted, you'll be required to file under Chapter 13, which requires debtors to repay creditors under a schedule set up by the courts. More bankruptcy-proof loans. Even if you meet the means test, it will be harder to get rid of some types of debts like student loans. Under current law, it's extremely difficult to wipe out student loans from the government or a non-profit organization, even under Chapter 7 bankruptcy. The new law expands that provision to include student loans from private lenders. Higher costs. The law requires more paperwork and imposes new accountability standards on attorneys, which could drive up lawyer fees. You will also have to undergo credit counseling with an approved organization within six months of filing for bankruptcy, although this requirement has been temporarily waived for filers in Louisiana and the southern district of Mississippi. A list of approved agencies is at http://www.usdoj.gov/ust. Click on Credit Counseling and Debtor Education, then Approved Credit Counseling Agencies. You could lose your car. If you are ineligible for Chapter 7, you will still have the option of setting up a repayment plan under Chapter 13. But Chapter 13 debtors will face a new provision that requires them to repay the full balance of their car loans. Under the current law, individuals in Chapter 13 are only required to repay the car's fair market value. Many cars depreciate as much as 50 percent after three years, so the fair market value is often much lower than the loan balance.
|
source: http://www.shreveporttimes.com/apps/pbcs.dll/article?AID=/20051013/NEWS01/510130360 13oct2005
Bankruptcy Filings Surge as Law Looms
Massachusetts Debtors Seek Protection Before Complex, Costly Change
ROBERT GAVIN / Boston Globe 13oct2005
Struggling debtors are rushing to file for bankruptcy before Monday, when a new law that makes it more complex and costly to gain protection from creditors goes into effect.
In the first 11 days of October, more than 2,500 new bankruptcy cases were filed in Massachusetts, compared to 464 during the same period a year ago, according to the clerk's office at US Bankruptcy Court in Boston. More than 1,000 new cases were filed over the long Columbus Day weekend alone.
Bankruptcy Court Clerk James Lynch said he expects the deluge to continue through the weekend. Over the last few weeks, local bankruptcy lawyers say they are filing up to five times as many cases as they normally would.
The new law, passed by Congress and signed by President Bush in April, represents the first major overhaul of the bankruptcy code in more than a quarter-century. Pushed by banks, credit-card companies, and retailers, the changes make it harder for higher-income families — in Massachusetts, a family of four with income of $85,000 or above — to wipe out debts through bankruptcy; require debtors to seek credit and financial counseling, for which debtors have to pay; and boost filing fees.
Consumers will feel the greatest impact from the bankruptcy overhaul, specialists said. But the new laws also are less favorable to businesses seeking protection while they reorganize operations, a section of the bankruptcy code known as Chapter 11. Under the new laws, firms will have less flexibility in crafting reorganization plans without interference from creditors, as well as in paying off suppliers.
These and other changes helped persuade Delphi Corp. of Troy, Mich., to file for bankruptcy Saturday. The struggling auto parts maker was negotiating with unions and General Motors Corp., its onetime parent, to restructure contracts and pension costs in the hope of avoiding bankruptcy.
But when it became clear that no plan could be crafted before the new law goes into effect, Delphi filed for bankruptcy in New York.
''It's a highly uncertain regime after that date," said Claudia Baucus, a Delphi spokeswoman. ''Nobody wants to be the first to try out a new law."
Uncertainty also is pushing many consumers to file before Monday. William McLeod, a Boston lawyer, said some of his clients might have tried to hang on longer. But the combination of rapidly rising energy costs, recent increases in minimum monthly credit-card payments, and concerns about the new law pushed them to file now.
''Bankruptcy protection will still be there after Monday," McLeod said. ''But it's going to be an interesting ride to see how this law evolves, how the courts interpret it, and how protected or unprotected people in debt will be."
Individuals and families can file for bankruptcy when they can no longer pay their debts, in most cases because of catastrophic events such as job losses or serious illnesses. The overwhelming majority file under Chapter 7, which wipes out unsecured debts, such as from credit cards.
Currently, after cases are filed, they are reviewed by a bankruptcy trustee, who reviews debtors finances, identifies and sells available assets, and wipes out the debt. If a trustee determines filers can pay at least some debts, they can be sent to Chapter 13 bankruptcy, which requires a plan to pay at least some of the debts.
Chapter 11 bankruptcy is primarily used by companies, which are protected from creditors while they reorganize operations in order to stay in business.
The new law establishes a means test to determine who can file for Chapter 7 bankruptcy, and who must file Chapter 13.
Those with incomes below the median still can file Chapter 7. Those with incomes above the median might still be able to use Chapter 7 if they have high necessary expenses, such as food and clothing, or other special circumstances, such as serious illnesses.
The rest will have to file Chapter 13. Phoebe Morse, the US Trustee for New England, estimates that no more than 15 percent of filers will be required to file under Chapter 13, and likely less than 10 percent. US trustees, appointed by the attorney general, oversee the administration of bankruptcy cases.
''There has been some undue alarm about what the effect of the law is going to be," Morse said. ''For people under the median income, there isn't going to be much change. And even if people have to file Chapter 13, it's still extraordinary relief, often just 10 to 15 percent of what you owe."
Morse added the surge in cases will temporarily increase the workloads of the private attorneys she appoints as trustees to oversee individual cases, but she expects the cases to move through the system expeditiously.
Consumers, meanwhile, face higher costs and additional requirements to file for bankruptcy under the new law. Fees to file Chapter 7 will rise to $274 from $209, although the poorest may get the fees waived. Most consumers also will have to pay for credit counseling, a new requirement to file for bankruptcy, as well as a financial management course, required at the end of the process to have debts settled.
The estimated cost of both: about $100.
Legal fees, which range anywhere from $600 to $2,000 for Chapter 7 cases, are expected to rise at least a few hundred dollars because of the increased complexity of the law, according to the National Association of Consumer Bankruptcy Attorneys.
source: http://www.boston.com/business/personalfinance/articles/2005/10/13/bankruptcy_filings_surge_as_law_looms?mode=PF 13oct2005
Bankruptcy Filings Surge Ahead Of New Law
Congress' Sell-Out of Taxpayers Takes Effect Monday
ConsumerAffairs.Com 13oct2005
For financially struggling Americans debating whether or not to file for bankruptcy protection, the day of decision is at hand. And for all appearances, many are making a mad dash for bankruptcy court before a new law goes into effect Monday giving their creditors a distinct upper hand.
The Boston Globe reports that in the first 11 days of October, more than 2,500 new bankruptcy cases were filed in Massachusetts, compared to 464 during the same period a year ago. More than 1,000 new cases were filed over the long Columbus Day weekend alone. The story appears to be the same in other parts of the country.
The U.S. Bankruptcy Court for the Western District of Missouri logged 494 new bankruptcy filings on Monday alone, a record number for a single day, according to the Kansas City Star. The court covers the western half of Missouri, including Kansas City, Springfield, Jefferson City and Joplin.
The U.S. Bankruptcy Court for the District of Utah on Wednesday reported 2,208 total bankruptcy filings last month, a 22.5 percent increase over the 1,803 total bankruptcy filings reported for September 2004, according to the Ogden Standard-Examiner.
Nationally, consumer filings for the week ended Oct. 8 posted a new record, averaging more than 20,000 filings per day. California-based Lundquist Consulting, a financial research firm, says that so far this year, bankruptcy filings are up nearly 20 percent over the same period in 2004.
The new bankruptcy law was passed earlier this year by a Congress supposedly facing a bitter partisan divide on nearly every major issue of the day. But lawmakers, lubricated by unprecedented lobbying and campaign contributions from the financial services industry, managed to put aside their supposed differences as the Bankruptcy Abuse Prevention and Consumer Protection Act sailed through the House of Representatives on a 301-126 vote and the Senate by a 74-25 margin.
Seen as Congress' gift to the credit industry, the new law will make it more difficult for individuals to get free of many debts, including most credit card bills. People who earn more than the median income for their state will be able to seek Chapter 7 elimination of debts only if they meet a "means test," which must be certified by their lawyers. Otherwise, they will have to file for Chapter 13 bankruptcy, which requires setting up a plan to pay back debt over five years.
The central tenet of the new law is that increased claims of bankruptcy have enabled abuses, allowing people to escape their debts without paying what they owe. The word "crisis" has been tossed about in much the same way as the debate over Social Security.
But a closer look reveals that a majority of those who declare bankruptcy in America do so because of real crises — long-term unemployment, ballooning health care costs and the ruthless tactics of credit-card companies.
source: http://www.consumeraffairs.com/news04/2005/bankruptcy_filings2.html 13oct2005
From the United States Bankruptcy Courts website:
Federal courts have exclusive jurisdiction over bankruptcy cases. Bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters.
The primary purposes of the law of bankruptcy are:
- To give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and
- To repay creditors in an orderly manner to the extent that the debtor has property available for payment
TABLE F U.S. BANKRUPTCY COURTS BANKRUPTCY CASES COMMENCED, TERMINATED AND PENDING DURING THE TWELVE MONTH PERIODS ENDED JUNE 30, 2004 AND 2005
CIRCUIT FILINGS TERMINATIONS PENDING
AND PERCENT PERCENT PERCENT
DISTRICT 2004 2005 CHANGE* 2004 2005 CHANGE * 2004 2005 CHANGE
TOTAL 1,635,725 1,637,254 .1 1,667,113 1,583,959 -5.0 1,697,267 1,750,562 3.1
DC...... 2,078 1,892 -9.0 2,356 2,254 -4.3 2,251 1,889 -16.1
1ST... 45,893 46,005 .2 52,225 49,421 -5.4 56,160 52,744 -6.1
ME...... 4,647 4,702 1.2 4,674 4,458 -4.6 2,876 3,120 8.5
MA...... 18,153 19,624 8.1 20,681 19,283 -6.8 14,435 14,776 2.4
NH...... 4,502 4,886 8.5 4,798 5,317 10.8 4,047 3,616 -10.7
RI...... 4,312 4,449 3.2 4,552 4,321 -5.1 2,249 2,377 5.7
PR...... 14,279 12,344 -13.6 17,520 16,042 -8.4 32,553 28,855 -11.4
2ND... 93,899 95,257 1.4 94,399 90,503 -4.1 86,090 90,844 5.5
CT...... 11,848 11,772 -.6 12,394 11,157 -10.0 7,549 8,164 8.1
NY,N.... 17,728 18,174 2.5 17,240 16,792 -2.6 20,117 21,499 6.9
NY,E.... 26,856 27,544 2.6 31,474 28,237 -10.3 18,209 17,516 -3.8
NY,S.... 20,539 19,508 -5.0 16,977 18,369 8.2 19,732 20,871 5.8
NY,W.... 15,086 16,513 9.5 14,416 14,425 .1 19,083 21,171 10.9
VT...... 1,842 1,746 -5.2 1,898 1,523 -19.8 1,400 1,623 15.9
3RD... 105,468 106,625 1.1 115,072 104,316 -9.4 102,352 104,661 2.3
DE...... 3,835 3,597 -6.2 5,785 4,524 -21.8 8,683 7,756 -10.7
NJ...... 42,533 40,719 -4.3 48,056 40,740 -15.2 41,553 41,532 -.1
PA,E.... 24,696 24,526 -.7 26,342 25,749 -2.3 24,783 23,560 -4.9
PA,M.... 14,151 14,947 5.6 13,731 13,572 -1.2 12,913 14,288 10.6
PA,W.... 20,213 22,789 12.7 21,107 19,686 -6.7 14,299 17,402 21.7
VI...... 40 47 17.5 51 45 -11.8 121 123 1.7
4TH... 139,111 132,632 -4.7 144,144 137,010 -5.0 168,823 164,445 -2.6
MD...... 32,007 28,503 -10.9 34,382 35,757 4.0 40,308 33,054 -18.0
NC,E.... 15,249 14,975 -1.8 14,895 14,844 -.4 21,473 21,604 .6
NC,M.... 12,263 11,856 -3.3 12,763 11,718 -8.2 19,583 19,721 .7
NC,W.... 10,225 10,712 4.8 10,630 10,370 -2.5 15,687 16,029 2.2
SC...... 15,925 15,224 -4.4 17,183 14,177 -17.5 24,256 25,303 4.3
VA,E.... 29,443 27,005 -8.3 30,129 27,474 -8.8 30,521 30,052 -1.5
VA,W.... 12,615 11,783 -6.6 12,345 11,379 -7.8 9,699 10,103 4.2
WV,N.... 4,630 5,137 11.0 4,657 4,686 .6 2,602 3,053 17.3
WV,S.... 6,754 7,437 10.1 7,160 6,605 -7.8 4,694 5,526 17.7
5TH... 143,619 150,438 4.7 147,437 141,600 -4.0 184,185 193,023 4.8
LA,E.... 10,119 10,465 3.4 10,507 9,966 -5.2 10,524 11,023 4.7
LA,M.... 4,236 4,342 2.5 4,043 4,221 4.4 4,863 4,984 2.5
LA,W.... 15,831 16,293 2.9 14,233 15,466 8.7 24,951 25,778 3.3
MS,N.... 8,128 8,969 10.3 7,993 8,265 3.4 11,058 11,762 6.4
MS,S.... 13,068 12,853 -1.6 14,044 11,319 -19.4 16,024 17,558 9.6
TX,N.... 32,198 33,375 3.7 37,034 31,319 -15.4 37,645 39,701 5.5
TX,E.... 13,094 13,585 3.7 13,828 13,042 -5.7 18,180 18,723 3.0
TX,S.... 25,826 29,118 12.7 25,138 27,447 9.2 33,761 35,432 4.9
TX,W.... 21,119 21,438 1.5 20,617 20,555 -.3 27,179 28,062 3.2
6TH... 246,091 254,328 3.3 234,231 230,728 -1.5 279,003 302,603 8.5
KY,E.... 13,302 13,456 1.2 13,481 12,030 -10.8 10,096 11,522 14.1
KY,W.... 15,948 15,750 -1.2 15,788 14,420 -8.7 12,704 14,034 10.5
MI,E.... 46,066 50,409 9.4 40,631 37,271 -8.3 49,057 62,195 26.8
MI,W.... 16,917 18,103 7.0 15,498 16,674 7.6 18,699 20,128 7.6
OH,N.... 48,811 51,222 4.9 47,780 47,633 -.3 45,851 49,440 7.8
OH,S.... 42,130 44,540 5.7 38,718 39,343 1.6 46,011 51,208 11.3
TN,E.... 20,041 19,691 -1.7 20,188 19,986 -1.0 28,834 28,539 -1.0
TN,M.... 15,828 15,536 -1.8 15,468 16,788 8.5 23,551 22,299 -5.3
TN,W.... 27,048 25,621 -5.3 26,679 26,583 -.4 44,200 43,238 -2.2
7TH... 164,753 168,478 2.3 163,986 157,041 -4.2 137,353 148,790 8.3
IL,N.... 55,687 56,591 1.6 59,688 56,505 -5.3 45,169 45,255 .2
IL,C.... 15,814 16,655 5.3 15,149 15,310 1.1 11,509 12,854 11.7
IL,S.... 9,834 10,305 4.8 9,269 8,579 -7.5 9,327 11,053 18.5
IN,N.... 21,106 21,166 .3 21,145 19,891 -5.9 18,246 19,521 7.0
IN,S.... 34,566 34,718 .4 32,862 27,908 -15.1 30,137 36,947 22.6
WI,E.... 18,494 19,421 5.0 16,447 19,796 20.4 17,230 16,855 -2.2
WI,W.... 9,252 9,622 4.0 9,426 9,052 -4.0 5,735 6,305 9.9
8TH... 108,202 113,320 4.7 109,086 102,670 -5.9 97,571 108,221 10.9
AR,E.... 15,491 16,459 6.2 14,835 14,654 -1.2 20,661 22,466 8.7
AR,W.... 8,685 9,010 3.7 8,523 8,214 -3.6 9,075 9,871 8.8
IA,N.... 4,989 5,636 13.0 4,870 5,189 6.6 2,685 3,132 16.6
IA,S.... 7,985 8,672 8.6 8,028 7,873 -1.9 4,589 5,388 17.4
MN...... 19,067 19,353 1.5 21,415 16,666 -22.2 16,119 18,806 16.7
MO,E.... 20,175 20,282 .5 22,323 19,430 -13.0 17,516 18,368 4.9
MO,W.... 17,776 18,894 6.3 16,379 17,226 5.2 15,724 17,392 10.6
NE...... 8,812 9,645 9.5 7,700 8,571 11.3 7,969 9,043 13.5
ND...... 2,309 2,455 6.3 2,240 2,261 .9 1,234 1,428 15.7
SD...... 2,913 2,914 0.0 2,773 2,586 -6.8 1,999 2,327 16.4
9TH... 268,122 253,584 -5.4 286,535 258,642 -9.7 215,199 210,141 -2.4
AK...... 1,483 1,608 8.4 1,583 1,498 -5.4 1,353 1,463 8.1
AZ...... 31,799 32,425 2.0 34,737 31,636 -8.9 31,917 32,706 2.5
CA,N.... 22,577 21,986 -2.6 23,795 23,157 -2.7 22,975 21,804 -5.1
CA,E.... 30,019 28,627 -4.6 31,778 29,449 -7.3 21,287 20,465 -3.9
CA,C.... 68,419 60,533 -11.5 75,976 61,871 -18.6 38,006 36,668 -3.5
CA,S.... 11,449 11,442 -.1 12,913 11,503 -10.9 8,215 8,154 -.8
HI...... 3,473 3,182 -8.4 3,744 3,118 -16.7 2,450 2,514 2.6
ID...... 9,653 9,690 .4 9,656 9,230 -4.4 8,339 8,799 5.5
MT...... 4,438 4,413 -.6 4,692 4,062 -13.4 3,788 4,139 9.3
NV...... 19,439 16,262 -16.3 23,063 21,022 -8.9 28,692 23,932 -16.6
OR...... 24,927 25,304 1.5 24,101 23,821 -1.2 17,828 19,311 8.3
WA,E.... 10,034 9,641 -3.9 10,010 9,567 -4.4 8,729 8,803 .8
WA,W.... 30,036 28,102 -6.4 30,106 28,305 -6.0 21,330 21,127 -1.0
GUAM.... 360 341 -5.3 364 366 .5 254 229 -9.9
NMI..... 16 28 75.0 17 37 117.6 36 27 -25.0
10TH.. 104,113 108,906 4.6 100,072 99,211 -.9 89,852 99,547 10.8
CO...... 27,428 30,244 10.3 25,626 26,454 3.2 19,790 23,580 19.2
KS...... 16,333 17,342 6.2 14,339 14,796 3.2 21,195 23,741 12.0
NM...... 9,371 10,053 7.3 9,603 9,378 -2.4 5,272 5,947 12.8
OK,N.... 7,798 8,027 2.9 7,752 7,425 -4.2 4,672 5,274 12.9
OK,E.... 5,055 5,195 2.8 4,707 4,887 3.8 3,156 3,464 9.8
OK,W.... 14,350 14,982 4.4 14,773 13,392 -9.4 11,947 13,537 13.3
UT...... 21,342 20,514 -3.9 20,716 20,518 -1.0 21,835 21,831 0.0
WY...... 2,436 2,549 4.6 2,556 2,361 -7.6 1,985 2,173 9.5
11TH.. 214,376 205,789 -4.0 217,570 210,563 -3.2 278,428 273,654 -1.7
AL,N.... 26,256 26,411 .6 25,286 25,077 -.8 36,329 37,663 3.7
AL,M.... 8,508 8,871 4.3 9,446 8,249 -12.7 12,889 13,511 4.8
AL,S.... 7,662 7,358 -4.0 6,268 6,872 9.6 13,481 13,967 3.6
FL,N.... 6,981 6,396 -8.4 7,316 6,260 -14.4 6,145 6,281 2.2
FL,M.... 55,354 52,189 -5.7 58,627 58,316 -.5 67,441 61,314 -9.1
FL,S.... 29,849 27,264 -8.7 30,691 29,031 -5.4 31,395 29,628 -5.6
GA,N.... 45,665 45,834 .4 47,420 44,715 -5.7 46,581 47,700 2.4
GA,M.... 17,913 16,852 -5.9 18,330 16,834 -8.2 30,008 30,026 .1
GA,S.... 16,188 14,614 -9.7 14,186 15,209 7.2 34,159 33,564 -1.8
PERCENT CHANGE NOT COMPUTED WHEN FEWER THAN 10 CASES REPORTED FOR THE PREVIOUS PERIOD.
source: http://www.uscourts.gov/Press_Releases/bankrupt_ftable_jun2005.xls 13oct2005
also see: http://www.uscourts.gov/bnkrpctystats/statistics.htm
Households Per Filing, Rank
During the 12-Month Period Ending March 31, 2004
Households per State Filing Rank Nationally 72.8 Alabama 47.2 6 Alaska 171.2 51 Arizona 70.6 23 Arkansas 48.4 7 California 89.8 32 Colorado 69.8 21 Connecticut 115.1 43 DC 124.0 45 Delaware 88.1 30 Florida 79.8 26 Georgia 42.4 3 Hawaii 126.8 47 Idaho 55.3 10 Illinois 59.1 12 Indiana 46.2 5 Iowa 97.0 37 Kansas 70.4 22 Kentucky 59.7 14 Louisiana 62.2 16 Maine 140.6 48 Maryland 65.8 18 Massachusetts 144.3 49 Michigan 68.0 19 Minnesota 105.4 40 Mississippi 54.8 9 Missouri 65.2 17 Montana 94.2 36 Nebraska 84.8 29 Nevada 42.9 4 New Hampshire 122.3 44 New Jersey 78.5 25 New Mexico 83.6 27 New York 97.2 38 North Carolina 93.9 35 North Dakota 125.8 46 Ohio 53.4 8 Oklahoma 55.8 11 Oregon 59.1 13 Pennsylvania 89.2 31 Rhode Island 99.0 39 South Carolina 111.9 42 South Dakota 111.5 41 Tennessee 38.7 2 Texas 90.9 33 Utah 36.5 1 Vermont 156.2 50 Virginia 68.6 20 Washington 61.9 15 West Virginia 75.0 24 Wisconsin 84.1 28 Wyoming 93.2 34 American Bankruptcy Institute |
source: http://www.abiworld.org/statcharts/HouseRank.htm 13oct2005
source: http://www.abiworld.org/statcharts/CDebt.pdf 13oct2005
Personal
Bankruptcy Filings by Quarter
1992 (1st quarter) - 2003 (1st quarter)
(in thousands)
source: http://www.abiworld.org/statcharts/image001.gif 13oct2005
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