Bankruptcy Filings Slide in Calendar Year 2011

Discussion in 'Economy' started by hvactec, Mar 12, 2012.

  1. hvactec
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    hvactec VIP Member

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    February 07, 2012

    Bankruptcy filings in the federal courts fell 11.5 percent in calendar year 2011, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the twelve-month period ending December 31, 2011, totaled 1,410,653, down from 1,593,081 bankruptcies filed in CY 2010.

    An historic high in the number of bankruptcy filings was seen in CY 2005, when over 2 million bankruptcies were filed. Although filings dropped in CY2006, the first full 12-month period after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect, they have grown steadily every year since. CY 2011 is the first calendar year to show a decrease in total filings since 2006.

    Business and Non-business Filings
    CY 2007-2011

    Year Business Non-Business Total
    2011 47,806 1,362,847 1,410,653
    2010 56,282 1,536,799 1,593,081
    2009 60,837 1,412,838 1,473,675
    2008 43,533 1,074,108 1,117,641
    2007 28,322 822,590 850,912

    read more News Item > Bankruptcy Filings Slide in Calendar Year 2011
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    What a way to spend yer tax refund...
    :eusa_shifty:
    Tax refunds being used to pay for bankruptcy filings
    12 Apr.`12 - Some Americans spend their tax refunds on high-tech gadgets and long-awaited vacations. Others use the cash to file for bankruptcy.
     

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