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Bankruptcy Filings Creeping Back Upward

As bankruptcy filers and their attorneys get a handle on the bankruptcy reforms that took effect last fall, the number of filings is beginning to creep upward.

By Staff Writer | Updated on September 05, 2006

WASHINGTON — As bankruptcy filers and their attorneys get a handle on the bankruptcy reforms that took effect last fall, the number of filings is beginning to creep upward.

The 12-month period ending June 30, 3006 saw 1,484,570 filings, well below the same period ending in 2005 at 1,637,254, according to the Administrative Office of the U.S. Courts. These particular stats will likely continue to decline over the next two quarters as the new quarters, with significantly fewer filings thus far, replace the old record-level filings, particularly after last October’s larger-than-expected rush. Observers expect the number of filings to begin to ring truer after that.

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