Last month saw an increase in bankruptcy filings over January. But a decline was reported from a year earlier.
There were 99,288 total non-commercial bankruptcy filings during February, the American Bankruptcy Institute reported Tuesday.
The Alexandria, Va., association says that its more than 13,000 members include bankers and lenders as well as attorneys, judges and professors.
Activity jumped from 83,014 non-commercial bankruptcies in January — when filings fell 9 percent from December.
“The stagnant housing sector and high unemployment continue to stress the cash flow of consumers and businesses,” ABI Executive Director Samuel J. Gerdano said in the report. “As consumers and businesses work to shed tremendous debt loads, there are times when bankruptcy is the only shelter to provide financial relief.”
But fewer bankruptcies were filed than in February 2011, when a revised 103,489 non-commercial filings were made.
So far this year, non-commercial bankruptcies totaled 182,302.
In Tennessee, the per-capita filing rate was 6.93 percent — worse than any other state. Nevada followed, then Georgia, Alabama and California.
ABI said its findings were derived from data provided by Epiq Systems Inc.
