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In the 1990s and early 2000s more Americans than ever filed for personal bankruptcy. On April 20, 2005, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act into law. The bill was meant to put more money into the hands of creditors, and crack down on filers. |
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The number of bankruptcies in North Central Washington dropped in May, the first monthly decline since the beginning of the year. |
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Americans continued seeking bankruptcy relief at a faster pace as more than 120,000 petitions were filed in May. Filings last month represent a 3 percent increase over April and 42 percent more than the same month in 2008, according to data compiled by Automated Access to Court Electronic Records. |
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A new report from Automated Access to Court Electronic Records (AACER) shows that in May alone, bankruptcy filings rose to more than 6,000 a day. |
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Job losses and the disastrous housing market continue to drive more and more people into bankruptcy court. |
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