Contact: John Hartgen
NOVEMBER CONSUMER BANKRUPTCY FILINGS DROP 18
PERCENT FROM PREVIOUS MONTH
December 2, 2009, Alexandria, Va.— The 112,152
consumer filings in November represented a decrease of 18 percent from
the 135,913 filings registered in October, according to the American
Bankruptcy Institute (ABI), relying on data from the National Bankruptcy
Research Center (NBKRC). Despite the drop from the previous month, the
November filings represented a 12 percent increase over the 99,925
consumer filings in November 2008. Chapter 13 filings constituted 29
percent of all consumer cases in November, unchanged from the October
"While bankruptcy filings cooled in November, consumers are still
feeling the effects of rising unemployment rates and housing debt," said
ABI Executive Director Samuel J. Gerdano. "Bankruptcies are set to top 1.4
million filings for 2009 as consumers and businesses continue to seek
shelter from economic distress."
ABI is the largest multi-disciplinary, nonpartisan organization
dedicated to research and education on matters related to insolvency.
ABI was founded in 1982 to provide Congress and the public with unbiased
analysis of bankruptcy issues. The ABI membership includes more than
12,400 attorneys, accountants, bankers, judges, professors, lenders,
turnaround specialists and other bankruptcy professionals, providing a
forum for the exchange of ideas and information. For additional
information on ABI, visit www.abiworld.org. For additional
conference information, visit http://www.abiworld.org/conferences.html.
NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit http://www.nbkrc.com.