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Total Bankruptcy Filings Increase Nearly 27 Percent Over First Quarter 2007 |
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The total number of U.S. bankruptcies filed during the first three months of 2008 increased 26.9 percent over the same period in 2007, according to data released today by the Administrative Office of the U.S. Courts. Total filings reached 245,695 during the first calendar year quarter of 2008 (Jan. 1- March 31), surpassing the 193,641 new cases filed over the same period in 2007. The total filings in the 2008 first quarter also represent an 8.5 percent increase from the 226,413 bankruptcies filed during the fourth quarter of 2007 (Oct. 1 - Dec. 31) and represents a 110 percent increase from the 116,771 total filings recorded during the first calendar quarter of 2006, the first full quarter following the implementation of the BAPCPA. Consumer filings increased 26.5 percent to 236,982 for the three-month period ending March 31, 2008, from the 2007 first quarter total of 187,361. Business filings for the three-month period ending March 31, 2008 totaled 8,713, representing a 38.7 percent increase over the first quarter 2007 total of 6,280.
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