Saturday, July 4, 2009

Consumer Bankruptcy Filings Up 36.5% YoY

U.S. consumers made 675,351 bankruptcy filings in the first half, a 36.5% increase from a year ago, according to the American Bankruptcy Institute. June filings by consumers totaled 116,365, up 40.6% from the same period in 2008. The monthly rate of consumer filings slowed, however, declining by 6.8% from May 2009.

1.4 million new bankruptcy filings expected by by year end.