The Bankruptcy Law Firm

Contact Our Law Firm

* Name:
* Home Phone:
* E-mail Address:
* Bankruptcy Issue:
 

An attorney client relationship is not established by submitting this initial contact information to our office.

You can contract with The
Bankruptcy Law Firm, PC, with confidence, because
The Bankrutpcy Law Firm, PC is a member of the Better Business Bureau, and has met all
requirements for being certified by the Better Business Bureau as a reliable business. Click on the BBB logo above to confirm The Bankruptcy Law Firm's certification
by the BBB.

BANKRUPTCY FILINGS IN FIRST HALF OF 2007 UP 48 PERCENT FROM A YEAR AGO

August 17, 2007

The American Bankruptcy Institute has issued the following report that Bankruptcy Filings in the First Half of 2007 are UP 48 Percent from the same period in 2006:

BANKRUPTCY FILINGS IN FIRST HALF OF 2007 UP 48 PERCENT FROM A YEAR AGO
The total number of U.S. bankruptcies filed during the first six months of 2007 increased 48.23 percent over the same period in 2006 in all bankruptcy court districts, according to data released today by the Administrative Office of the U.S. Courts. Total filings reached 404,090 during the first half of the calendar year of 2007 (January 1-June 30), compared to 272,604 cases filed over the same period in 2006. Filings by individuals or households with consumer debt increased 48.34 percent to 391,105 for the six-month period ending June 30, 2007, from the 2006 first-half total of 263,660. The overall percentage of consumers filing for chapter 13 protection fell slightly from 41.15 percent during the first half of 2006 (January 1-June 30) to 38.35 percent over the same period in 2007. Conversely, the first-half 2007 percentage of chapter 7 consumer filers increased to 61.58 percent from the 58.76 percent recorded in the first half of 2006. Business filings for the six-month period ending June 30, 2007, totaled 12,985, representing a 45.18 percent increase over the first-half 2006 total of 8,944. Chapter 7 liquidations increased to 8,404 in the first half of 2007, a 65.21 percent increase over the 5,087 business chapter 7 filings during the same period in 2006. Chapter 11 reorganizations also rose from 2,370 in the first half of 2006 to 2,713 in the same period of 2007, a 14.47 percent increase.

The Bankruptcy Law Firm represents small businesses and individuals in bankruptcy matters in all divisions of the United States Bankruptcy Court for the Central District of California including the counties of Los Angeles, Orange, Ventura, San Bernardino, Riverside, Santa Barbara, and South San Luis Obispo. Please call or contact our Los Angeles bankruptcy law firm for a free initial consultation regarding your financial situation. The Bankruptcy Law Firm, PC offers competent bankruptcy legal representation at fair prices.

:: Back to Articles

Free First Consult to Tell You if We Can Help You

Phone Us at 1-310-559-9224; or from Los Angeles and Ventura Counties Only Phone Toll Free 1-866-BKY-ATTY