Bankruptcy Statistics

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Democracywise

Issue: Bankruptcies

Filing for bankruptcy.

As the economy worsens, more and more Americans are taking the drastic step of bankruptcy to try to recover from their financial hardships.  The poor state of the economy has caused the number of personal bankruptcy filings to skyrocket in the past year. Nationwide, bankruptcy filings are up 33 percent from 2007, according to the AACER, a private firm that tracks bankruptcy filings. The firm found that an average of over 5,000 new filings per day were reported in November.

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Bloomberg

U.S. Bankruptcy Filings Near 1 Million Mark for This Year

Bankruptcy filings in the U.S. have almost topped 1 million this year, with one month to go.

Another 91,355 companies and individuals sought court protection from creditors in November, according to data compiled by Automated Access to Court Electronic Records, a service of Jupiter ESources LLC in Oklahoma City. A similar number in December would push the total for 2008 to around 1.1 million, up 33 percent from last year.

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Medill Reports Chicago

Bankruptcy filings soar in Chicago

Amid a severe economic crisis and a credit squeeze leaving people with fewer options, bankruptcy filings in Chicago soared in October and increased significantly for the first 10 months of 2008, reflecting a broad national trend.

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Free Articles

Surge in Filings Create Huge Potential for Virtual Bankruptcy Assistants

Rising energy costs, soaring personal debt and weakness in the housing market fueled the growth of bankruptcy filings for February 2008, according to Jenny Anderson in an article appearing on the website for Automated Access To Court Electronic Records. AACER provides U.S. bankruptcy data to attorneys, lenders, employers and individuals.

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Dow Jones Daily Bankruptcy Review

Consumer Goods Failures Push Chapter 11 Filings Above 1,000

Chapter 11 bankruptcy filings climbed above 1,000 in November thanks to a push from such consumer product companies as Circuit City Stores Inc. and Lenox Group Inc.

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