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July consumer bankruptcy filings down 18
ALEXANDRIA, Va. (8/4/11)--U.S. consumer bankruptcies in July decreased 18% nationwide from July 2010, according to the American Bankruptcy Institute (ABI), which relied on data from the National Bankruptcy Research Center (NBKRC). The data indicated that the overall consumer filing total for July reached 113,470--down from the 137,698 consumer filings recorded in July 2010. It was the seventh consecutive month for which there were fewer bankruptcies in 2011 than during the previous year. “The continued decline in consumer bankruptcies in tandem with a sluggish economy is a reflection of the deleveraging of household debts and tightening of consumer credit over the past year,” said ABI Executive Director Samuel J. Gerdano. “Should these trends persist, we expect to see fewer consumer bankruptcies in 2011 than were filed in 2010.” The July 2011 filings also represented a 5% decrease from the June 2011 consumer bankruptcy total of 119,768 filings. The percentage of chapter 13 filings for July was 29%, a 1% increase from June. ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. NBKRC is an online research center that offers subscribers access to up-to-date research and statistics on bankruptcy filings. The database contains complete information dating back to 1995.


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