%1

Contact: John Hartgen

            

703-739-0800

            

jhartgen@abiworld.org

JULY CONSUMER BANKRUPTCY FILINGS INCREASE 48 PERCENT OVER PREVIOUS
YEAR

August 4, 2008, Alexandria, Va.
face='Times New Roman' size='3'>— U.S. consumer
bankruptcy filings increased 48 percent nationwide in July from the same

period a year ago, according to the American Bankruptcy Institute (ABI),

relying on data from the National Bankruptcy Research Center (NBKRC).
The overall July consumer filing total of 94,124 also represented

an increase of 13.7 percent from the 82,770 filings recorded in June.
Chapter 13 filings constituted 32.5 percent of all consumer cases in
July, a slight decrease from June. 

“The most recent uptick in bankruptcy filings reflects growing
stress on the household finances of U.S. families,” said ABI
Executive Director
size='3'>Samuel J. Gerdano.  “We expect
bankruptcies to continue to surge past 1 million new cases by year
end.”

###

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
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
face='Times New Roman'>www.abiworld.org. For additional
conference information, visit
title='blocked::http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>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/'>
color='#0000ff'>http://www.nbkrc.com.

size='3'>*Definitions from Bankruptcy
Overview: Issues, Law and Policy
size='3'>, 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.  

size='3'>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.

size='3'>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

            

703-739-0800

            

jhartgen@abiworld.org

CONSUMER BANKRUPTCY FILINGS IN FIRST HALF OF
2008 UP 30 PERCENT FROM A YEAR AGO

 

July 2, 2008, Alexandria, Va.— U.S. consumer
bankruptcy filings increased 30 percent nationwide during the first six
months of 2008 (Jan. 1-June 30) from the same period a year ago,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The overall June
consumer filing total of 82,770 was 20.7 percent more than the 68,559
consumer filings recorded in June 2007. While the June total represented

an increase over the previous year, it was a 9.3 percent decrease from
the May 2008 total of 91,214 consumer filings. Chapter 13 filings
constituted 32.6 percent of all consumer cases in June, a slight
increase from May. 

 

“The overall trend of rising bankruptcies reflects the growing
financial strain of felt by U.S. households, burdened by high debt,
rising mortgage costs and falling home values,” said ABI Executive

Director Samuel J. Gerdano.

###

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
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
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 <
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

            

703-739-0800

            

jhartgen@abiworld.org

CONSUMER BANKRUPTCY FILINGS IN FIRST HALF OF
2008 UP 30 PERCENT FROM A YEAR AGO

 

July 2, 2008, Alexandria, Va.— U.S. consumer
bankruptcy filings increased 30 percent nationwide during the first six
months of 2008 (Jan. 1-June 30) from the same period a year ago,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The overall June
consumer filing total of 82,770 was 20.7 percent more than the 68,559
consumer filings recorded in June 2007. While the June total represented

an increase over the previous year, it was a 9.3 percent decrease from
the May 2008 total of 91,214 consumer filings. Chapter 13 filings
constituted 32.6 percent of all consumer cases in June, a slight
increase from May. 

 

“The overall trend of rising bankruptcies reflects the growing
financial strain of felt by U.S. households, burdened by high debt,
rising mortgage costs and falling home values,” said ABI Executive

Director Samuel J. Gerdano.

###

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
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
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 <
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

            

703-739-0800

            

jhartgen@abiworld.org

MAY CONSUMER BANKRUPTCY FILINGS INCREASE
NEARLY 31 PERCENT OVER PREVIOUS YEAR

June 5, 2008, Alexandria, Va.- U.S. consumer
bankruptcy filings increased 30.9 percent nationwide in May from the
same period a year ago, according to the American Bankruptcy Institute
(ABI), relying on data from the National Bankruptcy Research Center
(NBKRC). The overall May consumer filing total of 91, 214 was down
slightly by 1.2 percent from the 92,291 filings recorded in April.
Chapter 13 filings constituted 31.9 percent of all consumer cases in
May, a slight increase from April. 

“At current trends, we project that new bankruptcies will
exceed the milestone of one million cases this year,” said ABI
Executive Director Samuel J. Gerdano. “This would

be the first year reaching a million filings since Congress restricted
access to bankruptcy in 2005.”

###

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
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
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

            

703-739-0800

            

jhartgen@abiworld.org

MAY CONSUMER BANKRUPTCY FILINGS INCREASE
NEARLY 31 PERCENT OVER PREVIOUS YEAR

June 5, 2008, Alexandria, Va.- U.S. consumer
bankruptcy filings increased 30.9 percent nationwide in May from the
same period a year ago, according to the American Bankruptcy Institute
(ABI), relying on data from the National Bankruptcy Research Center
(NBKRC). The overall May consumer filing total of 91, 214 was down
slightly by 1.2 percent from the 92,291 filings recorded in April.
Chapter 13 filings constituted 31.9 percent of all consumer cases in
May, a slight increase from April. 

“At current trends, we project that new bankruptcies will
exceed the milestone of one million cases this year,” said ABI
Executive Director Samuel J. Gerdano. “This would

be the first year reaching a million filings since Congress restricted
access to bankruptcy in 2005.”

###

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
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
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

            

703-739-0800

            

jhartgen@abiworld.org

style='FONT-SIZE: 12pt'>

TOTAL BANKRUPTCY FILINGS INCREASE NEARLY 27 PERCENT OVER FIRST QUARTER
2007

June 3, 2008, Alexandria, Va.— 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 in all bankruptcy
court districts, according to data released today by the Administrative
Office of the U.S. Courts. As total filings reached 245,695 during the
first calendar year quarter of 2008 (Jan. 1-March 31), the total
surpassed the 193,641 new cases that were 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).

 

“This ninth consecutive quarterly increase in filings since
Congress attempted to restrict access to bankruptcy relief demonstrates
again the influence of rising household debt,” said Samuel J.
Gerdano, ABI Executive Director.  “We expect filings to
surge past 1 million cases by year-end.”

 

The first quarter 2008 filing total 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 Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
(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. They also represent an 8.5 percent increase from the fourth
quarter of 2007, which recorded a total of 218,428 nonbusiness filings.
The percentage of consumers filing for chapter 13 protection fell
slightly from 39.3 percent during the first quarter of 2007 (January
1-March 31) to 35.6 percent over the same period in 2008. The number of
consumers filing for chapter 7 protection increased to 64.4 percent
during the first three months of 2008, the largest percentage of
consumer chapter 7 filers since the implementation of BAPCPA.

 

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. The first quarter 2008 business filing
total also represented a 9.1 percent increase over the fourth quarter
2007 total of 7,985.

 

The 12-month filing total of 901,927 for the period ending March 31 is
an increase of 29.7 percent from the same period in 2007, which totaled
695,575 filings. Nonbusiness filings for the 12-month period ending
March 31, 2008, totaled 871,186, up 29.3 percent from the 673,615 total
nonbusiness filings in the 12-month period ending March 31, 2007.
Business filings for the 12-month period ending March 31, 2008, totaled
30,741, up 40 percent from the 21,960 business bankruptcy petitions
filed in the 12-month period ending March 31, 2007.

The 560,015 total chapter 7 filings for the 12-month period ending March

31, 2008, represent a 35.5 percent increase from the 413,294 filings
from the same period in 2007. Chapter 13 filings increased 20.9 percent
to 334,551 in the 12-month period ending March 31, 2008 from 276,649 in
the same period last year. Chapter 11 filings also increased, rising
34.1 percent to 6,971 in 2008 from 5,199 in 2007. Chapter 12 filings
decreased 8.5 percent from 372 in 2007 to 343 in 2008.


size='4'>


style='FONT-SIZE: 12pt'>BUSINESS FILINGS for the 3-month
period ending March 31, 2008, totaled 8,713, up 38.7 percent from the
6,280 bankruptcy business cases filed in the same period in 2007.
NON-BUSINESS FILINGS for the 3-month period ending March 31,
2008, increased 26.5 percent from 187,361 in 2007 to 236,982 in
2008.

 

The chapter* breakdown of BUSINESS filings for the 3-month
period ending March 31, 2008, is: 5,959 chapter 7s, 1,182 chapter 11s,
81 chapter 12s and 858 chapter 13s.

 

The chapter breakdown of NON-BUSINESS filings for the 3-month
period ending March 31, 2008, is: 152,543 chapter 7s, 200 chapter 11s
and 84,239 chapter 13s.

 

Districts with the Highest Percentage INCREASE in Total Filings
for the 12-month period ending March 31, 2008 (compared to the identical

period in 2007):

 

   1. Eastern District of California: 83.2%

   2. District of Nevada: 82.1%

   3. Central District of California: 79.0%

   4. Southern District of California: 68.3%

 

Districts with the Highest Percentage DECREASE in Total Filings
for the 12-month period ending March 31, 2008 (compared to the identical

period in 2007):

 

   1. District of the Northern Mariana Islands:
38.1%

   2. District of the Virgin Islands: 4.2%

   3. Northern District of New York: 2.2%

   4. District of Guam: 0.8%

face='Times New Roman' size='5'>###

style='FONT-SIZE: 11pt'>


style='FONT-SIZE: 12pt'>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 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
href='redir.aspx?URL=http%3a%2f%2fwww.abiworld.org%2fconferences.html.'
target='_blank'>
size='5'>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

            

703-739-0800

            

jhartgen@abiworld.org

style='FONT-SIZE: 12pt'>

TOTAL BANKRUPTCY FILINGS INCREASE NEARLY 27 PERCENT OVER FIRST QUARTER
2007

June 3, 2008, Alexandria, Va.— 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 in all bankruptcy
court districts, according to data released today by the Administrative
Office of the U.S. Courts. As total filings reached 245,695 during the
first calendar year quarter of 2008 (Jan. 1-March 31), the total
surpassed the 193,641 new cases that were 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).

 

“This ninth consecutive quarterly increase in filings since
Congress attempted to restrict access to bankruptcy relief demonstrates
again the influence of rising household debt,” said Samuel J.
Gerdano, ABI Executive Director.  “We expect filings to
surge past 1 million cases by year-end.”

 

The first quarter 2008 filing total 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 Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
(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. They also represent an 8.5 percent increase from the fourth
quarter of 2007, which recorded a total of 218,428 nonbusiness filings.
The percentage of consumers filing for chapter 13 protection fell
slightly from 39.3 percent during the first quarter of 2007 (January
1-March 31) to 35.6 percent over the same period in 2008. The number of
consumers filing for chapter 7 protection increased to 64.4 percent
during the first three months of 2008, the largest percentage of
consumer chapter 7 filers since the implementation of BAPCPA.

 

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. The first quarter 2008 business filing
total also represented a 9.1 percent increase over the fourth quarter
2007 total of 7,985.

 

The 12-month filing total of 901,927 for the period ending March 31 is
an increase of 29.7 percent from the same period in 2007, which totaled
695,575 filings. Nonbusiness filings for the 12-month period ending
March 31, 2008, totaled 871,186, up 29.3 percent from the 673,615 total
nonbusiness filings in the 12-month period ending March 31, 2007.
Business filings for the 12-month period ending March 31, 2008, totaled
30,741, up 40 percent from the 21,960 business bankruptcy petitions
filed in the 12-month period ending March 31, 2007.

The 560,015 total chapter 7 filings for the 12-month period ending March

31, 2008, represent a 35.5 percent increase from the 413,294 filings
from the same period in 2007. Chapter 13 filings increased 20.9 percent
to 334,551 in the 12-month period ending March 31, 2008 from 276,649 in
the same period last year. Chapter 11 filings also increased, rising
34.1 percent to 6,971 in 2008 from 5,199 in 2007. Chapter 12 filings
decreased 8.5 percent from 372 in 2007 to 343 in 2008.


size='4'>


style='FONT-SIZE: 12pt'>BUSINESS FILINGS for the 3-month
period ending March 31, 2008, totaled 8,713, up 38.7 percent from the
6,280 bankruptcy business cases filed in the same period in 2007.
NON-BUSINESS FILINGS for the 3-month period ending March 31,
2008, increased 26.5 percent from 187,361 in 2007 to 236,982 in
2008.

 

The chapter* breakdown of BUSINESS filings for the 3-month
period ending March 31, 2008, is: 5,959 chapter 7s, 1,182 chapter 11s,
81 chapter 12s and 858 chapter 13s.

 

The chapter breakdown of NON-BUSINESS filings for the 3-month
period ending March 31, 2008, is: 152,543 chapter 7s, 200 chapter 11s
and 84,239 chapter 13s.

 

Districts with the Highest Percentage INCREASE in Total Filings
for the 12-month period ending March 31, 2008 (compared to the identical

period in 2007):

 

   1. Eastern District of California: 83.2%

   2. District of Nevada: 82.1%

   3. Central District of California: 79.0%

   4. Southern District of California: 68.3%

 

Districts with the Highest Percentage DECREASE in Total Filings
for the 12-month period ending March 31, 2008 (compared to the identical

period in 2007):

 

   1. District of the Northern Mariana Islands:
38.1%

   2. District of the Virgin Islands: 4.2%

   3. Northern District of New York: 2.2%

   4. District of Guam: 0.8%

face='Times New Roman' size='5'>###

style='FONT-SIZE: 11pt'>


style='FONT-SIZE: 12pt'>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 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
href='redir.aspx?URL=http%3a%2f%2fwww.abiworld.org%2fconferences.html.'
target='_blank'>
size='5'>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

            

703-739-0800

            

jhartgen@abiworld.org

APRIL
CONSUMER BANKRUPTCY FILINGS INCREASE NEARLY 48 PERCENT OVER PREVIOUS
YEAR

May 2, 2008,

size='3'>Alexandria,
w:st='on'>
size='3'>Va.—

size='3'>U.S.
size='3'>consumer bankruptcy filings increased 47.7 percent nationwide
in April from the same period a year ago, according to the American
Bankruptcy Institute (
size='3'>ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The overall April
consumer filing total of 92,291 also represented a 7.1 percent increase
from the 86,165 filings in March. Chapter 13 filings constituted 31.14
percent of all consumer cases in April, a slight decrease from
March. 

“The sharp spike in

consumer bankruptcies reflects the growing financial stress faced by
American families, saddled with household debt and mortgage woes,”

said
size='3'>ABI Executive Director
Samuel J. Gerdano. “We expect consumer bankruptcies to top 1
million new cases this year'.

###

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 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
title='blocked::http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

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/'>
color='#0000ff' size='3'>http://www.nbkrc.com
face='Times New Roman' size='3'>.

size='3'>*Definitions from Bankruptcy
Overview: Issues, Law and Policy
size='3'>, 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.  

size='3'>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.

size='3'>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

            

703-739-0800

            

jhartgen@abiworld.org

APRIL
CONSUMER BANKRUPTCY FILINGS INCREASE NEARLY 48 PERCENT OVER PREVIOUS
YEAR

May 2, 2008,

size='3'>Alexandria,
w:st='on'>
size='3'>Va.—

size='3'>U.S.
size='3'>consumer bankruptcy filings increased 47.7 percent nationwide
in April from the same period a year ago, according to the American
Bankruptcy Institute (
size='3'>ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The overall April
consumer filing total of 92,291 also represented a 7.1 percent increase
from the 86,165 filings in March. Chapter 13 filings constituted 31.14
percent of all consumer cases in April, a slight decrease from
March. 

“The sharp spike in

consumer bankruptcies reflects the growing financial stress faced by
American families, saddled with household debt and mortgage woes,”

said
size='3'>ABI Executive Director
Samuel J. Gerdano. “We expect consumer bankruptcies to top 1
million new cases this year'.

###

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 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
title='blocked::http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

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/'>
color='#0000ff' size='3'>http://www.nbkrc.com
face='Times New Roman' size='3'>.

size='3'>*Definitions from Bankruptcy
Overview: Issues, Law and Policy
size='3'>, 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.  

size='3'>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.

size='3'>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

            

703-739-0800

            

jhartgen@abiworld.org

TOTAL
BANKRUPTCY FILINGS INCREASE NEARLY 38 PERCENT IN 2007

size='3'>April 15, 2008
size='3'>Alexandria,
w:st='on'>Va.
— Total bankruptcy filings in the
United States
increased 37.8 percent last year over calendar year 2006,

according to data released today from the Administrative Office of the
U.S. Courts (AOUSC). Bankruptcy filings totaled 850,912 for the 12-month

period ending Dec. 31, 2007, a significant increase over the previous
year’s total of 617,660. While the total filings for calendar year

2006 reflected a significant drop due to the implementation of the
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the
2007 filing totals mark an increase across all chapters of the
Bankruptcy Code for both consumer and business filings from the previous

year.  

“The latest figures

ratify trends that began last year, depicting households under growing
stress from heavy consumer debts, now in homes they can’t afford
and can’t sell,” said

face='Times New Roman' size='3'>ABI
size='3'>Executive Director Samuel J. Gerdano.

Business bankruptcies
recorded the sharpest percentage increase as the 28,322 business filings

during calendar year 2007 represented a 43.8 percent increase in filings

from the record low of 19,695 filings made during the 12-month period
ending Dec. 31, 2006. While the 12-month business filing total for 2007
was still lower than any year prior to 2006, the 2007 total was trending

towards the 35,293 business filings averaged annually for the past
decade (1998-2007). 

Consumer filings
rebounded to 822,590 during the 2007 calendar year, representing a 37.6
percent increase over the 597,965 recorded during the same period in
2006. The 500,613 consumer chapter 7 filings
during the 12-month period ending Dec. 31, 2007, comprised 60.9 percent
of the total consumer filings for the 2007 calendar year. The chapter 7
total for 2007 represented a 43.4 percent increase over the 349,012
consumer chapter 7 filings during 2006.

The

321,359 consumers who filed for chapter 13 during the 12-month period
ending Dec. 31, 2007, comprised 39.1 percent of the overall consumer
filing total. The chapter 13 total for 2007 represents a 29.4 percent
increase over the 248,430 consumer chapter 13 filings during
2006.

The 226,413 total bankruptcies
recorded during the fourth calendar quarter of 2007 (Oct.1-Dec. 31)
represent a 27.5 percent increase from the 177,599 filings during the
same period in 2006. The 2007 fourth calendar quarter filing total was
the highest of any previous quarter for 2007 and represented a 3.4
percent increase over the third quarter (July 1 – Sept. 30) total
of 218,909.

The 218,428 consumer filings in

the fourth quarter of 2007 represent a 27 percent increase in comparison

to the 172,013 consumer filings for the same quarter of 2006. The
consumer filing total for the fourth calendar quarter also represented a

3.2 percent increase from the previous total of 211,742 filings from the

third quarter of 2006.

Business filings, which totaled

7,985 for the fourth calendar quarter of 2007, represented a 43 percent
increase from the 5,586 filed in the same 3-month period in 2006 (Oct.
1-Dec. 31). Business filings also rose over the previous quarter as the
fourth calendar quarter represented a 11.4 percent increase over 7,167
business filings reported during the third quarter of 2007 (July 1-
Sept. 30).

The chapter* breakdown
of BUSINESS
filings for the 3-month period ending Dec.31, 2007, is
5,420 chapter 7s, 1,612 chapter 11s, 77 chapter 12s and 869 chapter
13s.

The chapter breakdown
of
size='3'>NONBUSINESS filings for the 3-month
period ending Dec. 31, 2007, is 132,192 chapter 7s, 181 chapter 11s and
86,055 chapter 13s.

States with the HIGHEST PER CAPITA
FILING RATE (Total Filings) for the 12-month period ending Dec. 31,
2007:

1. Tennessee

2. Georgia

3. Alabama

4. Indiana

5. Michigan

6. Ohio

7. Nevada

8. Arkansas

9. Kentucky

10. Mississippi

Districts with the HIGHEST PERCENTAGE
INCREASE in Total Filings for the 12-month period ending Dec. 31, 2007
(compared to the identical period in 2006):

size='3'>1.                     

District of Nevada:
98.5%

size='3'>2.                     

Eastern District
of California: 93.6%

size='3'>3.                     

Central District
of 
face='Times New Roman'
size='3'>California:
91.2%

size='3'>4.                     

Southern District
of California: 82.9%

size='3'>5.                     

District of Maine:
74.2%

Districts with the LOWEST PERCENTAGE
INCREASE in Total Filings for the 12-month period ending Dec. 31, 2007
(compared to the identical period in 2006):

size='3'>1.                     

District of the
Virgin
Islands: 0.0%

size='3'>2.                     

District of the
Northern
Mariana Islands:
0.0%

size='3'>3.                     

District of Montana:
1.8%

size='3'>4.                     

Western District of

size='3'>North Carolina:
8.9%

size='3'>5.                     

Middle District of

size='3'>North Carolina
size='3'>: 11.3%

More information will be
available at 

href='http://www.abiworld.org/Content/NavigationMenu/Online_Resources/Bankruptcy_Statistics/ABI_-_Bankruptcy_Statistics.htm'>

face='Times New Roman' color='#0000ff' size='3'>ABI’s Statistics
Page,
href='http://www.abiworld.org/statistics'>
color='#0000ff'
size='3'>http://www.abiworld.org/statistics
face='Times New Roman' size='3'>.

###

face='Times New Roman' size='3'>ABI
size='3'>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
w:st='on'>
size='3'>ABI membership includes
more than 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
face='Times New Roman' size='3'>ABI
size='3'>, visit www.abiworld.org. For additional conference
information, visit
href='http://www.abiworld.org/conferences.html'>
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

size='3'>*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.  

size='3'>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.

size='3'>Chapter 12 of the Bankruptcy
Code is designed to give special debt relief to a family farmer with
regular income from farming. 

size='3'>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.