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Bankruptcies Retreat After Vicious Month

134,720 filings in April

May 3, 2011

By MortgageDaily.com staff


Following an explosive jump during March, consumer bankruptcy filings subsided last month.

A report from he American Bankruptcy Institute indicates 134,720 consumer bankruptcies were filed in April. Volume was down from 144,567 the prior month -- which saw a 40 percent jump from February.

The decline was about the same compared to April 2010, when 144,490 consumer filings were recorded.

There have been 474,732 consumer filings from Jan. 1 through April 30 based on the figures from ABI, which relies on data from the National Bankruptcy Research Center.

Chapter 13 bankruptcies accounted for around 26 percent of April's activity, working out to approximately 35,000 filings. Chapter 13 bankruptcies amounted to roughly 37,600 filings during March.

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