|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.
|
Consumer Bankruptcies Fall in 2011
1.3 million consumer bankruptcies filed in 2011
Jan. 4, 2012
By MortgageDaily.com staff
|
Last year, 11 percent fewer consumers filed bankruptcy than in 2010. Impacting the decline was deleveraging by U.S. households.
Consumer bankruptcy filings totaled 53,014 in December, based on statistics reported by the American Bankruptcy Institute. However, the low monthly figure appears to be the result of a change in the data source used by ABI.
December's data was provided by Epiq Systems Inc., according to the 13,000-member trade group. The prior month, when consumer bankruptcies were 100,980, the data was obtained from the National Bankruptcy Research Center.
ABI reported 118,146 consumer bankruptcy filings for December 2010.
From Jan. 1, 2011, to Dec. 31, 2011, consumer bankruptcy filings totaled 1,304,971. Filings receded from the prior year's revised 1,468,938 (prior ABI data indicated that there were 1,530,078 consumer bankruptcies filed in 2010).
"The decline in total filings reflects the retrenchment in consumer spending associated with a down U.S. economy," ABI Executive Director Samuel J. Gerdano said in the report. "As consumers continue to de-leverage their debt and access to credit remains tight, bankruptcy filings will continue to decrease."
Total chapter 13 bankruptcies filed last year were 401,588, falling 8 percent from 435,242 during 2010. |
next story
back to current headlines
|
|
|
|