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Monthly BK Filings Down

116,365 June consumer bankruptcies filed

July 3, 2009

By staff

Monthly bankruptcy filings by consumers dipped. But by all other measures -- bankruptcies continued to increase at an unrelenting pace.

Second-quarter consumer bankruptcy filings came in at 366,821, the American Bankruptcy Institute reported Thursday. Filings climbed from the first quarter's 308,530 and were up more than 100,000 from 266,275 bankruptcies in the second-quarter 2008.

More than 12,000 attorneys, judges, lenders and other bankruptcy professionals reportedly are members of Alexandria, Va.-based ABI.

The association attributed the increase to rising health care costs, worsening unemployment and increasing foreclosures.

In the first six months of 2009, consumer bankruptcies totaled 675,351, according to the report which is based on data from the National Bankruptcy Research Center. During the same period last year, filings totaled 494,610.

By the end of this year, ABI projects that more than 1.4 million consumer bankruptcies will have been filed.

For just June, 116,365 consumer bankruptcies were filed, falling from 124,838 the prior month but well above 82,770 the prior year.

Chapter 13 cases accounted for around 32,200 of June's filings, down from around 33,700 the previous month.
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