Contact: John Hartgen
BANKRUPTCY FILINGS WILL INCREASE IN FISCAL
YEAR 2011, ACCORDING TO LATEST ABI QUICK POLL
January 31, 2011, Alexandria, Va.— A majority of
respondents (74 percent) in a recent ABI Quick Poll predicted that
bankruptcy filings will increase in fiscal year 2011. Fifty-three
percent of respondents “strongly agreed” that filings would
increase, while 21 percent “somewhat agreed” that filings
Total bankruptcies for fiscal year 2010 (Oct. 1, 2009-Sept. 30, 2010),
were 1,596,355, up 14 percent over total FY 2009 bankruptcy filings of
1,402,816, according to the Administrative Office of the U.S. Courts.
Bankruptcies have increased each fiscal year since 2005, when Congress
overhauled the Bankruptcy Code to reduce the number of consumers and
businesses filing for bankruptcy.
Twenty-one percent of respondents did not think that bankruptcy filings
would increase in fiscal year 2011. Seventeen percent “somewhat
disagreed” and four percent “strongly disagreed” that
filings would increase in FY2011. Four percent did not know or had no
opinion on the poll question.
ABI members and members of the public were welcome to submit their
response to the statement: “Bankruptcy filings will rise in fiscal
ABI’s Quick Poll is posted on ABI’s home page, www.abiworld.org. ABI members and
the public are invited to respond to a question on a timely bankruptcy
or insolvency issue. Visit http://www.abiworld.net/quickpoll/
to access the results of previous ABI Quick Polls.
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
12,800 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.