Contact: John Hartgen
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(703) 739-0800
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href='mailto:jhartgen@abiworld.org'>
color='#0000ff' size='3'>jhartgen@abiworld.org
BANKRUPTCIES
TO INCREASE MORE THAN 35 PERCENT IN 2009, ACCORDING TO LATEST ABI QUICK
POLL
size='3'>January 26, 2009, Alexandria, Va.
size='3'>— A majority of respondents (65 percent) in a recent ABI
Quick Poll predicted that bankruptcies in 2009 would increase by at
least 35 percent over the nearly 1.1 million cases filed in
2008. Fifty-three percent of
respondents predicted that filings would increase by 35 percent or more
while 12 percent thought that filings would increase by about 35
percent.
Thirty-three percent predicted
that the 2009 filing total would represent an increase of 30 percent or
less from the 2008 figure. Seventeen percent of respondents thought that
bankruptcies would increase 30 percent, while 16 percent thought that
the 2009 filings would increase 25 percent or less over the 2008
total.
Bankruptcies totaled nearly 1.1
million in 2008, with more than 97 percent of the cases filed by
consumers, representing an increase of more than 30 percent over the
2007 filing total. Bankruptcies have increased nearly 35 percent each
year since 2006, when filings reached their lowest levels since the
1980s following the implementation of the Bankruptcy Abuse Prevention
and Consumer Protection Act of 2005.
ABI members and members of the
public were welcome to submit their response to the statement:
“Bankruptcies rose more than 30 percent in 2008 to nearly 1.1
million new cases, with more than 97 percent of cases filed by
consumers. Filings will rise by what percentage in
2009?”
ABI’s Quick Poll is
posted on ABI’s home page,
href='http://www.abiworld.org/'>
size='3'>www.abiworld.org
size='3'>. ABI members and the public are invited to respond to a
question on a timely bankruptcy or insolvency issue. Visit
href='http://www.abiworld.net/quickpoll/'>
color='#0000ff' size='3'>http://www.abiworld.net/quickpoll/
to access the results of previous
ABI Quick Polls.
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ABI is the largest
multi-disciplinary, nonpartisan organization dedicated to research and
education on matters related to insolvency. ABI was founded in 1982 to
provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes nearly 11,700 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org. For additional conference information,
visit
face='Times New Roman' color='#0000ff'
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.