After reaching a five-year high, consumer bankruptcy filings eased last month.
The American Bankruptcy Institute reported 144,490 filings for April. Activity eased from 149,268 during March, which was “the highest monthly consumer filing total since Congress overhauled the Bankruptcy Code in 2005.”
A year ago, 125,618 consumer bankruptcies were filed, according to the group — whose members include 12,600 attorneys and judges, bankers and lenders, and other bankruptcy professionals.
Year-to-date April 30 filings amounted to 507,705 bankruptcies. ABI Executive Director Samuel J. Gerdano predicted in the report that this year’s filings will surpass 1.5 million.
ABI said it relies on data from the National Bankruptcy Research Center.
Chapter 13 bankruptcies accounted for one-quarter of April activity, or roughly 36,100 filings. March’s Chapter 13 share was the same, but such filings were higher at around 37,300.
