Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Consumer bankruptcy filings up 11
ALEXANDRIA, Va. (10/8/10)--U.S. consumer bankruptcy filings went up 11% during the first nine months of 2010 over the same period a year ago, announced the American Bankruptcy Institute (ABI). ABI clocked more than 1.165 million bankruptcies nationwide, compared with 1.046 million for the period in 2009. It was the highest total since 2005, when Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCAP), said ABI in a press release. "While the 2005 bankruptcy overhaul law aimed to reduce filings, overall consumer debt and continued financial stress have led to consumer bankruptcies climbing back to pre-BAPCAP levels," said Samuel J. Gerdano, ABA executive director. "We expect that there will be nearly 1.6 million new bankruptcy filings by year end." Overall September filings totaled 130,329--4.4% more than the 124,790 recorded filings in September 2009. The September total represents a 3.3% increase from August's filings, which totaled 127,028. Chapter 13 filings constituted 30% of all consumer cases in September, a slight increase from August, said ABI. The institute relied on data from the National Bankruptcy Research Center.


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago