%1

Contact: John Hartgen

            

703-894-5935

href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org

MAY CONSUMER BANKRUPTCY FILINGS FALL 16
PERCENT FROM LAST YEAR

 

June 2, 2011, Alexandria, Va. — May consumer
bankruptcies decreased 16 percent nationwide from May 2010, according to

the American Bankruptcy Institute (ABI), relying on data from the
National Bankruptcy Research Center (NBKRC). The data showed that the
overall consumer filing total for May reached 114,803, down from the
136,142 consumer filings recorded in May 2010.

 

“The continued drop in bankruptcies during 2011 reflects the pull
back in consumer credit over the past year, and a reduction in household

debt,” said ABI Executive Director Samuel J.
Gerdano.

 

The May 2011 filings also represented a 15 percent decrease from the
April 2011 consumer bankruptcy total of 134,720 filings. The percentage
of chapter 13 filings for May was 27 percent, a one percent increase
from April.

 

###

 

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 more than
13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

 

NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit
href='http://www.nbkrc.com/'>http://www.nbkrc.com.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute.

 

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start.

 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

 

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

 

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part. 

Contact: John Hartgen

            

703-894-5935

            

jhartgen@abiworld.org

FIRST QUARTER BANKRUPTCY FILINGS FALL 6
PERCENT FROM 2010; BUSINESS FILINGS DROP 15 PERCENT

 

May 6, 2011, Alexandria, Va.— The total number of

U.S. bankruptcy cases filed during the first three months of 2011
decreased 6 percent over the same period in 2010, according to data
released today by the Administrative Office of the U.S. Courts. Total
filings reached 366,178 during the first calendar year quarter of 2011
(Jan. 1-March 31), a drop from the 388,148 new cases that were filed
over the same period in 2010. The total filings in the 2011 first
quarter also represent a 1 percent decrease from the 370,080
bankruptcies filed during the fourth quarter of 2010 (Oct. 1 –
Dec. 31).

 

“The drop in bankruptcy filings demonstrates the continued effort
of both consumers and businesses to decrease their debt loads and shore
up their finances,” said Samuel J. Gerdano, ABI
Executive Director.  “We expect that bankruptcy filings for
2011 will fall below last year’s total of 1.5 million.”

 

Consumer filings fell 5 percent to 353,802 for the three-month period
ending March 31, 2011, from the 2010 first quarter total of 373,541.
They also represent a 1 percent decrease from the fourth quarter of
2010, which recorded a total of 357,050 nonbusiness filings. The
percentage of consumers filing for chapter 13 protection increased
slightly from 27.1 percent during the first quarter of 2010 (January
1-March 31) to 28.6 percent over the same period in 2011. The number of
consumers filing for chapter 7 protection fell slightly from 72.8
percent during the first three months of 2010 to 71.3 percent for the
period ending March 31, 2011.

 

Business filings for the three-month period ending March 31, 2011
totaled 12,376, representing a 15 percent decrease over the first
quarter 2010 total of 14,607. The first quarter 2011 business filing
total also represented a 5 percent decrease from the fourth quarter 2010

total of 13,030.

 

The 12-month filing total of 1,571,183 for the period ending March 31,
2011, is an increase of 2.6 percent from the same period in 2010, which
totaled 1,531,997 filings. Nonbusiness filings for the 12-month period
ending March 31, 2011, totaled 1,516,971, up 3 percent from the
1,470,849 total nonbusiness filings in the 12-month period ending March
31, 2010. Business filings fell over 11 percent for the 12-month period
ending March 31, 2011 to 54, 212, down from the 61,148 business filings
in the 12-month period ending March 31, 2010.

The 1,118,481 total chapter 7 filings for the 12-month period ending
March 31, 2011, represent a 2 percent increase from the 1,100,032
filings from the same period in 2010. Total chapter 13 filings increased

5 percent to 438,788 in the 12-month period ending March 31, 2011 from
415,966 in the same period last year.  During this same 12-month
period, total chapter 11 filings decreased, falling 14 percent to 13,051

in 2011 from 15,251 in 2010. Chapter 12 filings increased 23 percent to
743 in 2011 compared to 605 filings in 2010.

The chapter* breakdown of BUSINESS filings for the 3-month period ending

March 31, 2011, is: 8,615 chapter 7s, 2,605 chapter 11s, 181 chapter 12s

and 949 chapter 13s.

 

The chapter breakdown of NON-BUSINESS filings for the 3-month period
ending March 31, 2011, is: 252,338 chapter 7s, 458 chapter 11s and
101,006 chapter 13s.

 

States with the HIGHEST PER CAPITA FILING RATE (Total Filings) for the
12-month period ending March 31, 2011:

 

1.     Nevada

2.     Georgia

3.     Tennessee

4.     California

5.     Indiana

6.     Alabama

7.     Utah

8.     Michigan

9.     Arizona

10.  Colorado

 

Districts with the HIGHEST PERCENTAGE INCREASE in total filings for the
12-month period ending March 31, 2011 (compared to the identical period
in 2010):

 

1.     Southern District of Florida: 26.5%

2.     Central District of California: 22.8%

3.     District of Utah: 19.7%

4.     District of Hawaii: 18.1%

5.     District of Arizona: 11.9%

 

###

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 more than
13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part.

Contact: John Hartgen

            

703-894-5935

            

jhartgen@abiworld.org

FIRST QUARTER BANKRUPTCY FILINGS FALL 6
PERCENT FROM 2010; BUSINESS FILINGS DROP 15 PERCENT

 

May 6, 2011, Alexandria, Va.— The total number of

U.S. bankruptcy cases filed during the first three months of 2011
decreased 6 percent over the same period in 2010, according to data
released today by the Administrative Office of the U.S. Courts. Total
filings reached 366,178 during the first calendar year quarter of 2011
(Jan. 1-March 31), a drop from the 388,148 new cases that were filed
over the same period in 2010. The total filings in the 2011 first
quarter also represent a 1 percent decrease from the 370,080
bankruptcies filed during the fourth quarter of 2010 (Oct. 1 –
Dec. 31).

 

“The drop in bankruptcy filings demonstrates the continued effort
of both consumers and businesses to decrease their debt loads and shore
up their finances,” said Samuel J. Gerdano, ABI
Executive Director.  “We expect that bankruptcy filings for
2011 will fall below last year’s total of 1.5 million.”

 

Consumer filings fell 5 percent to 353,802 for the three-month period
ending March 31, 2011, from the 2010 first quarter total of 373,541.
They also represent a 1 percent decrease from the fourth quarter of
2010, which recorded a total of 357,050 nonbusiness filings. The
percentage of consumers filing for chapter 13 protection increased
slightly from 27.1 percent during the first quarter of 2010 (January
1-March 31) to 28.6 percent over the same period in 2011. The number of
consumers filing for chapter 7 protection fell slightly from 72.8
percent during the first three months of 2010 to 71.3 percent for the
period ending March 31, 2011.

 

Business filings for the three-month period ending March 31, 2011
totaled 12,376, representing a 15 percent decrease over the first
quarter 2010 total of 14,607. The first quarter 2011 business filing
total also represented a 5 percent decrease from the fourth quarter 2010

total of 13,030.

 

The 12-month filing total of 1,571,183 for the period ending March 31,
2011, is an increase of 2.6 percent from the same period in 2010, which
totaled 1,531,997 filings. Nonbusiness filings for the 12-month period
ending March 31, 2011, totaled 1,516,971, up 3 percent from the
1,470,849 total nonbusiness filings in the 12-month period ending March
31, 2010. Business filings fell over 11 percent for the 12-month period
ending March 31, 2011 to 54, 212, down from the 61,148 business filings
in the 12-month period ending March 31, 2010.

The 1,118,481 total chapter 7 filings for the 12-month period ending
March 31, 2011, represent a 2 percent increase from the 1,100,032
filings from the same period in 2010. Total chapter 13 filings increased

5 percent to 438,788 in the 12-month period ending March 31, 2011 from
415,966 in the same period last year.  During this same 12-month
period, total chapter 11 filings decreased, falling 14 percent to 13,051

in 2011 from 15,251 in 2010. Chapter 12 filings increased 23 percent to
743 in 2011 compared to 605 filings in 2010.

The chapter* breakdown of BUSINESS filings for the 3-month period ending

March 31, 2011, is: 8,615 chapter 7s, 2,605 chapter 11s, 181 chapter 12s

and 949 chapter 13s.

 

The chapter breakdown of NON-BUSINESS filings for the 3-month period
ending March 31, 2011, is: 252,338 chapter 7s, 458 chapter 11s and
101,006 chapter 13s.

 

States with the HIGHEST PER CAPITA FILING RATE (Total Filings) for the
12-month period ending March 31, 2011:

 

1.     Nevada

2.     Georgia

3.     Tennessee

4.     California

5.     Indiana

6.     Alabama

7.     Utah

8.     Michigan

9.     Arizona

10.  Colorado

 

Districts with the HIGHEST PERCENTAGE INCREASE in total filings for the
12-month period ending March 31, 2011 (compared to the identical period
in 2010):

 

1.     Southern District of Florida: 26.5%

2.     Central District of California: 22.8%

3.     District of Utah: 19.7%

4.     District of Hawaii: 18.1%

5.     District of Arizona: 11.9%

 

###

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 more than
13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part.

Contact: John Hartgen

             703-894-5935

            

jhartgen@abiworld.org

FIRST QUARTER CONSUMER BANKRUPTCY FILINGS FALL

6 PERCENT FROM 2010

 

April 4, 2011, Alexandria, Va.— Consumer
bankruptcies for the first quarter of 2011 (Jan. 1 – March 31)
decreased 6 percent nationwide from the same time period in 2010,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The data showed
that the overall consumer filing total for the first three months of
2011 (Jan. 1-March 31) reached 340,012, down from the 363,215 consumer
filings recorded for the first quarter of 2010.

 

“Though bankruptcy filings are still elevated, consumers continue
to take steps to reduce debt levels and shore up their finances,”
said ABI Executive Director Samuel J. Gerdano.
“As a result, we now expect that consumer bankruptcy filings will
dip below the 1.5 million filings recorded last year.”

 

A month-by-month look at the data showed that the overall consumer
filing total for March reached 144,657, up from the 102,686 consumer
filings recorded in February 2011. Though an increase from the previous
month, the March 2011 consumer bankruptcy total represents a 3 percent
decrease from the 149,268 filings recorded in March 2010. Chapter 13
filings constituted 26 percent of all consumer cases in March, a slight
decrease from February.

###

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 more than
13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

 

NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit
href='http://www.nbkrc.com/'>http://www.nbkrc.com.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute.

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part.

Contact: John Hartgen

             703-894-5935

            

jhartgen@abiworld.org

FIRST QUARTER CONSUMER BANKRUPTCY FILINGS FALL

6 PERCENT FROM 2010

 

April 4, 2011, Alexandria, Va.— Consumer
bankruptcies for the first quarter of 2011 (Jan. 1 – March 31)
decreased 6 percent nationwide from the same time period in 2010,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The data showed
that the overall consumer filing total for the first three months of
2011 (Jan. 1-March 31) reached 340,012, down from the 363,215 consumer
filings recorded for the first quarter of 2010.

 

“Though bankruptcy filings are still elevated, consumers continue
to take steps to reduce debt levels and shore up their finances,”
said ABI Executive Director Samuel J. Gerdano.
“As a result, we now expect that consumer bankruptcy filings will
dip below the 1.5 million filings recorded last year.”

 

A month-by-month look at the data showed that the overall consumer
filing total for March reached 144,657, up from the 102,686 consumer
filings recorded in February 2011. Though an increase from the previous
month, the March 2011 consumer bankruptcy total represents a 3 percent
decrease from the 149,268 filings recorded in March 2010. Chapter 13
filings constituted 26 percent of all consumer cases in March, a slight
decrease from February.

###

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 more than
13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

 

NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit
href='http://www.nbkrc.com/'>http://www.nbkrc.com.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute.

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part.

Contact: John Hartgen

            
703-894-5935

             
href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org

FEBRUARY CONSUMER BANKRUPTCY FILINGS INCREASE
11 PERCENT FROM PREVIOUS MONTH

 

March 1, 2011, Alexandria, Va.— February consumer
bankruptcies increased 11 percent nationwide from January 2011,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The data showed
that the overall consumer filing total for February reached 102,686, up
from the 92,669 consumer filings recorded in January 2011.

 

“Though consumers are striving to reduce their debt burden, high
unemployment and a still-poor housing sector continue to fuel new
bankruptcies,” said ABI Executive Director Samuel J.
Gerdano. “We expect these factors to lead to over 1.5
million consumer filings this year.'

 

Though an increase from the January 2011 filings, the February 2011
consumer bankruptcy total represents an 8 percent decrease from the
111,693 filings recorded in February 2010. Chapter 13 filings
constituted 30 percent of all consumer cases in February, a slight
decrease from January.

###

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 more than
12,800 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit
href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

 

NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit
href='http://www.nbkrc.com/'>http://www.nbkrc.com.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute.

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part 

Contact: John Hartgen

            
703-894-5935

             
href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org

FEBRUARY CONSUMER BANKRUPTCY FILINGS INCREASE
11 PERCENT FROM PREVIOUS MONTH

 

March 1, 2011, Alexandria, Va.— February consumer
bankruptcies increased 11 percent nationwide from January 2011,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The data showed
that the overall consumer filing total for February reached 102,686, up
from the 92,669 consumer filings recorded in January 2011.

 

“Though consumers are striving to reduce their debt burden, high
unemployment and a still-poor housing sector continue to fuel new
bankruptcies,” said ABI Executive Director Samuel J.
Gerdano. “We expect these factors to lead to over 1.5
million consumer filings this year.'

 

Though an increase from the January 2011 filings, the February 2011
consumer bankruptcy total represents an 8 percent decrease from the
111,693 filings recorded in February 2010. Chapter 13 filings
constituted 30 percent of all consumer cases in February, a slight
decrease from January.

###

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 more than
12,800 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit
href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

 

NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit
href='http://www.nbkrc.com/'>http://www.nbkrc.com.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute.

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with
regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part 

Contact: John Hartgen

            

703-894-5935

            

jhartgen@abiworld.org

TOTAL BANKRUPTCY FILING GROWTH RATE SLOWS TO 8

PERCENT IN 2010, BUSINESS FILINGS FALL 7.5 PERCENT

February 15, 2011 Alexandria, Va. — Total
bankruptcy filings in the United States increased 8 percent in 2010 over

calendar year 2009, according to data released today from the
Administrative Office of the U.S. Courts (AOUSC). Bankruptcy filings
totaled 1,593,081 for the 12-month period ending Dec. 31, 2010, over the

previous year’s total of 1,473,675. Total filings have steadily
increased since the implementation of the Bankruptcy Abuse Prevention
and Consumer Protection Act of 2005 (BAPCPA). Total bankruptcies reached

2,078,415 in advance of the 2005 changes to the Bankruptcy Code.

“After three consecutive years of double-digit increases in
total filings, the slowing of the growth rate of bankruptcies reflects a

retrenchment in consumer spending associated with a down U.S.
economy,” said ABI Executive Director Samuel J.
Gerdano.

The 1,536,799 consumer filings during the 2010 calendar year
represented a 9 percent increase over the 1,412,838 filings recorded
during the same period in 2009. The consumer chapter 7 total of
1,100,116 filings during the 12-month period ending Dec. 31, 2010,
represented a 9 percent increase over the 1,008,870 consumer chapter 7
filings during all of 2009. The consumer chapter 7 filings comprised 72
percent of the total consumer filings for the 2010 calendar year, up
slightly from the previous year. The percentage of consumers filing
under chapter 7 has increased each year since BAPCPA was implemented at
the end of 2005.

The 434,739 consumers who filed for chapter 13 during the 12-month
period ending Dec. 31, 2010, comprised 28 percent of the overall
consumer filing total. The consumer chapter 13 total for 2010 represents

an 8 percent increase over the 402,462 consumer chapter 13 filings
during 2009.

While total and consumer bankruptcies continued to increase in 2010,
business filings decreased by 7.5 percent. Business bankruptcies
decreased to 56,282 filings during calendar year 2010 from the 60,837
filings made during the 12-month period ending Dec. 31, 2009. Chapter 11

business filings decreased the most in calendar year 2010, falling 14
percent to 11,774 from the 13,683 recorded in 2009.

The only business bankruptcy chapter to experience an increase in
2010 was chapter 12, which is designed to give special debt relief to
family farmers and fishermen. Chapter 12 business filings increased 33
percent to 723 bankruptcies during the 12-month period ending Dec. 31,
2010 from the 544 filings recorded in 2009. The 2010 chapter 12 business

bankruptcies represent the highest total since the 834 filings
registered during the 12-month period ending Dec. 31, 1999.

The 370,080 total bankruptcies recorded during the fourth calendar
quarter of 2010 (Oct.1-Dec. 31, 2010) represent a 1 percent decrease
from the 372,203 filings during the same period in 2009. The fourth
quarter 2010 filing total also represents a 10 percent decrease over the

third quarter (July 1 – Sept. 30, 2010) total of 412,380.

The 357,050 consumer filings in the fourth quarter of 2010 represent
a 0.4 percent decrease in comparison to the 357,183 consumer filings for

the same quarter of 2009. Mirroring the overall filing total, the
consumer filings in the fourth calendar quarter represented a 10 percent

decrease from the third quarter 2010 total of 398,423 consumer
filings.

Business filings, which totaled 13,030 for the fourth calendar
quarter of 2010, represented a 13 percent decrease from the 15,020 filed

in the same three-month period in 2009 (Oct. 1-Dec. 31). Business
filings in the fourth quarter of 2010 decreased 7 percent from the
13,957 business filings reported during the third quarter of 2010 (July
1- Sept. 30).

The chapter* breakdown of BUSINESS filings for the
3-month period ending Dec. 31, 2010, is 9,142 chapter 7s, 2,682 chapter
11s, 164 chapter 12s and 989 chapter 13s.

The chapter breakdown of NONBUSINESS filings for the

3-month period ending Dec. 31, 2010, is 248,526 chapter 7s, 466 chapter
11s and 108,057 chapter 13s.

Districts with the HIGHEST PERCENTAGE INCREASE in Total
Filings for the 12-month period ending Dec. 31, 2010 (compared to the
identical period in 2009):

1.     Southern District of Florida: 36.2%

2.     Central District of California: 31.4%

3.     District of Hawaii: 27.4%

4.     District of Utah: 24.6%

5.     District of Arizona: 23.7%

Districts with the HIGHEST PERCENTAGE DECREASE in Total
Filings for the 12-month period ending Dec. 31, 2010 (compared to the
identical period in 2009):

1.     District of the Guam: -21.7%

2.     District of the Virgin Islands: -17.2%

3.     Eastern District of Tennessee: -10.5%

4.     Northern District of West Virginia:
-10.3%

5.     Western District of New York: -9.9%

More information will be available at ABI’s Statistics Page,

href='http://www.abiworld.org/statistics'>http://www.abiworld.org/statistics.

###

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 more than
nearly 13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with

regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part. 

Contact: John Hartgen

            

703-894-5935

            

jhartgen@abiworld.org

TOTAL BANKRUPTCY FILING GROWTH RATE SLOWS TO 8

PERCENT IN 2010, BUSINESS FILINGS FALL 7.5 PERCENT

February 15, 2011 Alexandria, Va. — Total
bankruptcy filings in the United States increased 8 percent in 2010 over

calendar year 2009, according to data released today from the
Administrative Office of the U.S. Courts (AOUSC). Bankruptcy filings
totaled 1,593,081 for the 12-month period ending Dec. 31, 2010, over the

previous year’s total of 1,473,675. Total filings have steadily
increased since the implementation of the Bankruptcy Abuse Prevention
and Consumer Protection Act of 2005 (BAPCPA). Total bankruptcies reached

2,078,415 in advance of the 2005 changes to the Bankruptcy Code.

“After three consecutive years of double-digit increases in
total filings, the slowing of the growth rate of bankruptcies reflects a

retrenchment in consumer spending associated with a down U.S.
economy,” said ABI Executive Director Samuel J.
Gerdano.

The 1,536,799 consumer filings during the 2010 calendar year
represented a 9 percent increase over the 1,412,838 filings recorded
during the same period in 2009. The consumer chapter 7 total of
1,100,116 filings during the 12-month period ending Dec. 31, 2010,
represented a 9 percent increase over the 1,008,870 consumer chapter 7
filings during all of 2009. The consumer chapter 7 filings comprised 72
percent of the total consumer filings for the 2010 calendar year, up
slightly from the previous year. The percentage of consumers filing
under chapter 7 has increased each year since BAPCPA was implemented at
the end of 2005.

The 434,739 consumers who filed for chapter 13 during the 12-month
period ending Dec. 31, 2010, comprised 28 percent of the overall
consumer filing total. The consumer chapter 13 total for 2010 represents

an 8 percent increase over the 402,462 consumer chapter 13 filings
during 2009.

While total and consumer bankruptcies continued to increase in 2010,
business filings decreased by 7.5 percent. Business bankruptcies
decreased to 56,282 filings during calendar year 2010 from the 60,837
filings made during the 12-month period ending Dec. 31, 2009. Chapter 11

business filings decreased the most in calendar year 2010, falling 14
percent to 11,774 from the 13,683 recorded in 2009.

The only business bankruptcy chapter to experience an increase in
2010 was chapter 12, which is designed to give special debt relief to
family farmers and fishermen. Chapter 12 business filings increased 33
percent to 723 bankruptcies during the 12-month period ending Dec. 31,
2010 from the 544 filings recorded in 2009. The 2010 chapter 12 business

bankruptcies represent the highest total since the 834 filings
registered during the 12-month period ending Dec. 31, 1999.

The 370,080 total bankruptcies recorded during the fourth calendar
quarter of 2010 (Oct.1-Dec. 31, 2010) represent a 1 percent decrease
from the 372,203 filings during the same period in 2009. The fourth
quarter 2010 filing total also represents a 10 percent decrease over the

third quarter (July 1 – Sept. 30, 2010) total of 412,380.

The 357,050 consumer filings in the fourth quarter of 2010 represent
a 0.4 percent decrease in comparison to the 357,183 consumer filings for

the same quarter of 2009. Mirroring the overall filing total, the
consumer filings in the fourth calendar quarter represented a 10 percent

decrease from the third quarter 2010 total of 398,423 consumer
filings.

Business filings, which totaled 13,030 for the fourth calendar
quarter of 2010, represented a 13 percent decrease from the 15,020 filed

in the same three-month period in 2009 (Oct. 1-Dec. 31). Business
filings in the fourth quarter of 2010 decreased 7 percent from the
13,957 business filings reported during the third quarter of 2010 (July
1- Sept. 30).

The chapter* breakdown of BUSINESS filings for the
3-month period ending Dec. 31, 2010, is 9,142 chapter 7s, 2,682 chapter
11s, 164 chapter 12s and 989 chapter 13s.

The chapter breakdown of NONBUSINESS filings for the

3-month period ending Dec. 31, 2010, is 248,526 chapter 7s, 466 chapter
11s and 108,057 chapter 13s.

Districts with the HIGHEST PERCENTAGE INCREASE in Total
Filings for the 12-month period ending Dec. 31, 2010 (compared to the
identical period in 2009):

1.     Southern District of Florida: 36.2%

2.     Central District of California: 31.4%

3.     District of Hawaii: 27.4%

4.     District of Utah: 24.6%

5.     District of Arizona: 23.7%

Districts with the HIGHEST PERCENTAGE DECREASE in Total
Filings for the 12-month period ending Dec. 31, 2010 (compared to the
identical period in 2009):

1.     District of the Guam: -21.7%

2.     District of the Virgin Islands: -17.2%

3.     Eastern District of Tennessee: -10.5%

4.     Northern District of West Virginia:
-10.3%

5.     Western District of New York: -9.9%

More information will be available at ABI’s Statistics Page,

href='http://www.abiworld.org/statistics'>http://www.abiworld.org/statistics.

###

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 more than
nearly 13,000 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the
American Bankruptcy Institute

Chapter 7 of the Bankruptcy Code is available to both individual and
business debtors. Its purpose is to achieve a fair distribution to
creditors of the debtor’s available non-exempt property. 
Unsecured debts not reaffirmed are discharged, providing a fresh
financial start. 

Chapter 11 of the Bankruptcy Code is available for both business and
consumer debtors. Its purpose is to rehabilitate a business as a going
concern or reorganize an individual’s finances through a
court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt
relief to a family farmer with regular income from farming.

Chapter 13 of the Bankruptcy Code is available for an individual with

regular income whose debts do not exceed specific amounts; it is
typically used to budget some of the debtor’s future earnings
under a plan through which unsecured creditors are paid in whole or in
part. 

Contact: John Hartgen

            

703-894-5935

href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org

JANUARY CONSUMER BANKRUPTCY FILINGS DECREASE
22 PERCENT FROM PREVIOUS MONTH

February 1, 2011, Alexandria, Va.— January
consumer bankruptcies decreased 22 percent nationwide from December
2010, according to the American Bankruptcy Institute (ABI), relying on
data from the National Bankruptcy Research Center (NBKRC). The data
showed that the overall consumer filing total for January reached
92,669, down from the 118,146 consumer filings recorded in December
2010. The January 2011 consumer filings represent the lowest monthly
filing total since January 2009, when 88,773 filings were recorded.

 

'The decline in consumer filings in January represents a promising start

to 2011 after years of expanding consumer debt and financial distress,'
said ABI Executive Director Samuel J. Gerdano. 'Still,
we anticipate that there will be nearly 1.6 million consumer bankruptcy
filings by year end.'

 

The January 2011 consumer filing total also represented a 9 percent drop

from January 2010 total of 102,254. Chapter 13 filings constituted 32
percent of all consumer cases in January, a slight increase from
December.

###

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 more than
12,800 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
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

href='http://www.abiworld.org/conferences.html'>http://www.abiworld.org/conferences.html.