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Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Bankruptcies Increase

102,686 filings in February

March 2, 2011

By MortgageDaily.com staff


After reaching a two-year low in January, monthly bankruptcy filings were up 11 percent.

Consumers filed 102,686 bankruptcies in February, according to the American Bankruptcy Institute. Filings were higher than 92,669 reported for January.

But the level of activity improved from 111,693 filings during February 2010.

The membership of ABI, which gets it data from the National Bankruptcy Research Center, includes more than 12,800 lawyers and judges, financial executives and other bankruptcy professionals.

Chapter 13 filings accounted for 30 percent of February cases, representing around 30,800 bankruptcies. January's Chapter 13 filings were around 29,650, while there were around 30,200 in February of last year.

Year-to-date total bankruptcies amount to around 195,355. Full-year filings are forecasted at 1.5 million.

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