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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.
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| Big Decline in Bankruptcy Filings
114,587 consumer bankruptcies during November
Dec. 3, 2010
By MortgageDaily.com staff
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Consumers filed 13 percent fewer bankruptcies last month.
Total filings were 114,587 during November, the American Bankruptcy Institute reported. Activity sank from 132,173 filings reported for October.
Consumer bankruptcies, came in higher, however, than November 2009, when 112,152 consumers filed, according to the report, which was based on data provided by the National Bankruptcy Research Center.
Between January and November, total consumer bankruptcies were 1,411,932.
While ABI projects 1.6 million bankruptcies this year, Mortgage Daily estimates that the number will be closer to 1.5 million.
Of November's filings, 29.6 percent -- or around 33,900 -- were Chapter 13 bankruptcies. Last month's Chapter 13 filings came in around 39,250, while the count was around 32,500 a year earlier. |
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