Fiscal 2011 sees drop in bankruptcy filings

by DeLadurantey Law Office, LLC on November 14, 2011

In the 2011 fiscal year, bankruptcy filings in the U.S. decreased by 8 percent.  A report from the American Bankruptcy Institute using data from the Administrative Office of the U.S. Courts says that 1.47 million bankruptcies were filed in the U.S. from January through September.

1.06 million of the bankruptcies filed through September were consumer bankruptcies.  According to the ABI, personal bankruptcy filings dropped by 11 percent in the first 9 months of 2011.

Consumer bankruptcies also decreased.  Chapter 11 filings were reported to have decreased by 22 percent and Chapter 7 filings by 18 percent.  The report did not note if Chapter 12 or Chapter 13 business bankruptcies also declined.

If you are considering filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of DeLadurantey Law Office, LLC by calling 414-377-0518 today.

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