Bankruptcy Filings For First Quarter Down From 2010 Levels


Based on information provided by the Administrative Office of the U.S. Courts, the number of bankruptcy filings in the first quarter of 2011 was down 6% from the number of first quarter filings in 2010. Overall, 366,178 bankruptcy cases were filed during January, February, and March of 2011. Over the same period in 2010, 388,148 cases were filed. First quarter consumer bankruptcy filings were down 5% from first quarter 2010 levels. Also, business filings for the first quarter decreased 15% from the same period in 2010. The total first quarter filings for 2011 are also down 1% from the number of bankruptcies filed in the fourth quarter of 2010.

The Executive Director of the American Bankruptcy Institute believes total filings for 2011 will end up below the total from 2010, representing attempts by consumers and businesses to decrease debt. The top five states with the highest per capita bankruptcy filing rate were Nevada, Georgia, Tennessee, California, and Indiana. Those states were ranked using filing data for the one-year period ending on March 31, 2011.

Source:

First Quarter Bankruptcy Filings Fall 6 Percent from 2010; Business Filings Drop 15 Percent,

https://www.abiworld.org/AM/Template.cfm?Section=Home&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=63681 (accessed June 14, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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