%1

Contact: John
Hartgen

            

(703) 739-0800

color='#0000ff'>jhartgen@abiworld.org

BANKRUPTCY
FILINGS IN FIRST HALF OF 2007 UP 48 PERCENT FROM A YEAR
AGO

August 16,
2007,
size='3'>Alexandria,
w:st='on'>
size='3'>Va.—
size='3'>The total number of
w:st='on'>
size='3'>U.S.
size='3'>bankruptcies filed during the first six months of 2007
increased 48.23 percent over the same period in 2006 in all bankruptcy
court districts, according to data released today by the Administrative
Office of the U.S. Courts. Total filings reached 404,090 during the
first half of the calendar year of 2007 (January 1-June 30), compared to

272,604 cases filed over the same period in 2006.

“The new upward
trend in bankruptcies reflects the economic reality of households under
increasing financial stress,” said
w:st='on'>
size='3'>ABI Executive Director
Samuel J. Gerdano. “We expect bankruptcy filings to continue to
rise for the balance of 2007.”

Filings by individuals or
households with consumer debt increased 48.34 percent to 391,105 for the

six-month period ending June 30, 2007, from the 2006 first-half total of

263,660. The overall percentage of consumers filing for chapter 13
protection fell slightly from 41.15 percent during the first half of
2006 (January 1-June 30) to 38.35 percent over the same period in 2007.
Conversely, the first-half 2007 percentage of chapter 7 consumer filers
increased to 61.58 percent from the 58.76 percent recorded in the first
half of 2006.

Business filings for the
six-month period ending June 30, 2007, totaled 12,985, representing a
45.18 percent increase over the first-half 2006 total of 8,944. Chapter
7 liquidations increased to 8,404 in the first half of 2007, a 65.21
percent increase over the 5,087 business chapter 7 filings during the
same period in 2006. Chapter 11 reorganizations also rose from 2,370 in
the first half of 2006 to 2,713 in the same period of 2007, a 14.47
percent increase.

The 751,056 total filings

for the 12-month period ending June 30 were down 49.41 percent from the
same period in 2006, which totaled 1,484,570 filings, a figure that
includes a surge in cases filed before the implementation date of a
major change in the law. The bankruptcy filing rate per thousand

size='3'>U.S.
size='3'>residents totaled 2.48 for all chapters during the 12-month
period ending June 30, 2007, as 1.49 Americans per thousand filed for
chapter 7 while 0.97 per thousand filed for chapter 13
bankruptcy.
face='Times New Roman' size='3'>Tennessee

was the state with the highest per capita filing rate in
the country with 6.03 residents per thousand filing in all chapters, and

also had the highest per capita filing rate for chapter 13 filings at
3.78. The state with the highest per capita filing rate for chapter 7
bankruptcy was
face='Times New Roman' size='3'>Indiana
at 2.98 per thousand for the 12-month period ended June
30, 2007.

Nonbusiness filings for the
12-month period ending June 30, 2007, totaled 727,167, down 50 percent
from the 1,453,008 total nonbusiness filings experienced over the same
period in 2006. Business filings for the 12-month period ending June 30,

2007, totaled 23,889, down 24.31 percent from the 31,562 bankruptcy
petitions filed in the 12-month period ending June 30, 2006.

The 450,332 total chapter 7
filings for the 12-month period ending June 30, 2007, represent a 61.34
percent decrease from the 1,164,815 filings from the same period in
2006. Chapter 13 filings fell 5.87 percent to 294,693 in the 12-month
period ending June 30, 2007, from 313,085 in the same period last year.
Chapter 11 filings also declined, falling 10.25 percent to 5,586 in 2007

from 6,224 in 2006. However, chapter 12 filings rose 7.22 percent from
360 in 2006 to 386 in 2007.

size='3'>BUSINESS FILINGS for the 3-month
period ending June 30, 2007, totaled 6,705, up 38.02 percent from the
4,858 bankruptcy business cases filed in the same period in 2006.

NON-BUSINESS FILINGS

for the 3-month period ending June 30, 2007, increased
34.95 percent from 150,975 in 2006 to 203,744 in 2007.

The chapter* breakdown
of BUSINESS
filings for the 3-month period ending June 30, 2007, is:
4,333 chapter 7s, 1,430 chapter 11s, 112 chapter 12s and 821 chapter
13s.

The chapter breakdown
of
size='3'>NON-BUSINESS filings for the 3-month
period ending June 30, 2007, is: 127,180 chapter 7s, 144 chapter 11s and

76,420 chapter 13s.

###

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 11,500 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'>.

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. 

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

JUNE CONSUMER
BANKRUPTCY FILINGS INCREASE
size='3'>NEARLY 37 PERCENT OVER PREVIOUS YEAR

July 9, 2007, Alexandria,
Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings increased 37.1 percent nationwide in June from the previous
year, according to the American Bankruptcy Institute (
w:st='on'>ABI). Relying on data from the National
Bankruptcy Research Center (NBKRC), overall consumer filings totaled
68,559 in June, nearly a 2 percent decrease from the 69,684 filings in
May. Chapter 13 filings constituted 38.3 percent of all consumer cases
in June, a slight increase over the previous three
months.  

'While bankruptcy filings are
up more than 30 percent from the same period last year, they are less
than half of what they were in 2005,' said Samuel J. Gerdano,
ABI Executive Director.
'However, the underlying concerns of high debt loads are still a
constant, pointing to rising filings in the future.'

###

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 11,500 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='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/'>
color='#0000ff' size='3'>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

JUNE CONSUMER
BANKRUPTCY FILINGS INCREASE
size='3'>NEARLY 37 PERCENT OVER PREVIOUS YEAR

July 9, 2007, Alexandria,
Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings increased 37.1 percent nationwide in June from the previous
year, according to the American Bankruptcy Institute (
w:st='on'>ABI). Relying on data from the National
Bankruptcy Research Center (NBKRC), overall consumer filings totaled
68,559 in June, nearly a 2 percent decrease from the 69,684 filings in
May. Chapter 13 filings constituted 38.3 percent of all consumer cases
in June, a slight increase over the previous three
months.  

'While bankruptcy filings are
up more than 30 percent from the same period last year, they are less
than half of what they were in 2005,' said Samuel J. Gerdano,
ABI Executive Director.
'However, the underlying concerns of high debt loads are still a
constant, pointing to rising filings in the future.'

###

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 11,500 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='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/'>
color='#0000ff' size='3'>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

BANKRUPTCY
FILINGS INCREASE 66 PERCENT OVER FIRST QUARTER 2006

June 27, 2007,
w:st='on'>Alexandria,
w:st='on'>Va.— The total number of

w:st='on'>U.S. bankruptcies filed
during the first three months of 2007 increased 65.83 percent over the
same period in 2006 in all bankruptcy court districts, according to data

released today by the Administrative Office of the U.S. Courts. As total

filings reached 193,641 during the first calendar year quarter of 2007
(January 1-March 31), the total surpassed the 116,771 new cases that
were filed over the same period in 2006. They also represent a 9.03
percent increase from the 177,599 bankruptcies filed during the fourth
quarter of 2006 (Oct. 1 – Dec. 31, 2006).

'Though bankruptcy filings are
still low from a historical outlook, new cases are being filed at much
higher rates than a year ago, as more households feel the stress of high

debt burdens, a trend that is likely to continue,' said
w:st='on'>ABI Executive Director Samuel J.
Gerdano.

Consumer filings increased
66.27 percent to 187,361 for the three-month period ending March 31,
2007 from the 2006 first quarter total of 112,685. They also represent
an 8.92 percent increase from the fourth quarter of 2006, which recorded

a total of 172,013 nonbusiness filings. The percentage of consumers
filing for chapter 13 protection fell slightly from 43.76 percent during

the first quarter of 2006 (January 1-March 31) to 39.27 percent over the

same period in 2007. The first quarter 2007 percentage of chapter 13
consumer filers is also down from the 42.47 percent recorded in the
fourth quarter of 2006.

Business filings for the
three-month period ending March 31, 2007 totaled 6,280, representing a
53.7 percent increase over the first quarter 2006 total of 4,086. The
first quarter 2007 business filing total also represented a 12.42
percent increase over the fourth quarter 2006 total of
color='black'>5,586.

While representing an increase
over the first quarter 2006 totals, the 2007 first quarter filings are
still below the 341,662 first quarter filing average recorded since
1997. This filing shortfall reflects the changes brought about by the
implementation of the Bankruptcy Abuse Prevention and Consumer
Protection Act of 2005 (BAPCPA). The new law, implemented on Oct. 17,
2005, requires that consumers first go through credit counseling before
being eligible for bankruptcy. The new law also reduces the scope of
bankruptcy relief.

The 695,575 total filings for
the 12-month period ending March 31 were down 61.24 percent from the
same period in 2006, which totaled 1,794,795 filings. Nonbusiness
filings for the 12-month period ending March 31, 2007, totaled 673,615,
down 61.72 percent from the 1,759,503 total nonbusiness filings in the
12-month period ending March 31, 2006. Business filings for the 12-month

period ending March 31, 2007, totaled 21,960, down 37.78 percent from
the 35,292 bankruptcy petitions filed in the 12-month period ending
March 31, 2006.

The 413,294 total chapter 7
filings for the 12-month period ending March 31, 2007, represent a 71.14

percent decrease from the 1,432,074 filings from the same period in
2006. Chapter 13 filings fell 22.24 percent to 276,649 in the 12-month
period ending March 31, 2007 from 355,756 in the same period last year.
Chapter 11 filings also declined, falling 19.98 percent to 5,199 in 2007

from 6,497 in 2006. Chapter 12 filings rose 1.64 percent from 366 in
2006 to 372 in 2007.

BUSINESS FILINGS
for the 3-month period ending March 31, 2007, totaled 6,280, up 53.7
percent from the 4,086 bankruptcy business cases filed in the same
period in 2006. NON-BUSINESS FILINGS for the 3-month period
ending March 31, 2007, increased 66.27 percent from 112,685 in 2006 to
187,361 in 2007.

The chapter* breakdown of
BUSINESS filings for the 3-month period ending March 31, 2007,
is: 4,071 chapter 7s, 1,283 chapter 11s, 104 chapter 12s and 817 chapter

13s.

The chapter breakdown of
NON-BUSINESS filings for the 3-month period ending March 31,
2007, is: 113,659 chapter 7s, 123 chapter 11s and 73,579 chapter
13s.

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

1. District of the
   w:st='on'>Northern Mariana Islands: 27.59%
   
2. Western District of

   w:st='on'>Tennessee

   :
   33.93%
   
3. Southern District of Georgia:
   35.65%   
   
4. Northern District of Georgia:
   38.28%
   
5. Middle District of
   w:st='on'>Tennessee:
   38.49%

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

1. Eastern District of Louisiana:

   78.87%

    
   
   
   size='3'>     
2. Eastern District of Oklahoma:
   77.90%
   
3. Southern District of West
   Virginia: 77.24%      
   
4. Western District of

   w:st='on'>Oklahoma

   :
   77.18%
   
5. District of Arizona:
   75.24%

###

size='3'>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
w:st='on'>ABI membership includes more than 11,500
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='http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>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

BANKRUPTCY
FILINGS INCREASE 66 PERCENT OVER FIRST QUARTER 2006

June 27, 2007,
w:st='on'>Alexandria,
w:st='on'>Va.— The total number of

w:st='on'>U.S. bankruptcies filed
during the first three months of 2007 increased 65.83 percent over the
same period in 2006 in all bankruptcy court districts, according to data

released today by the Administrative Office of the U.S. Courts. As total

filings reached 193,641 during the first calendar year quarter of 2007
(January 1-March 31), the total surpassed the 116,771 new cases that
were filed over the same period in 2006. They also represent a 9.03
percent increase from the 177,599 bankruptcies filed during the fourth
quarter of 2006 (Oct. 1 – Dec. 31, 2006).

'Though bankruptcy filings are
still low from a historical outlook, new cases are being filed at much
higher rates than a year ago, as more households feel the stress of high

debt burdens, a trend that is likely to continue,' said
w:st='on'>ABI Executive Director Samuel J.
Gerdano.

Consumer filings increased
66.27 percent to 187,361 for the three-month period ending March 31,
2007 from the 2006 first quarter total of 112,685. They also represent
an 8.92 percent increase from the fourth quarter of 2006, which recorded

a total of 172,013 nonbusiness filings. The percentage of consumers
filing for chapter 13 protection fell slightly from 43.76 percent during

the first quarter of 2006 (January 1-March 31) to 39.27 percent over the

same period in 2007. The first quarter 2007 percentage of chapter 13
consumer filers is also down from the 42.47 percent recorded in the
fourth quarter of 2006.

Business filings for the
three-month period ending March 31, 2007 totaled 6,280, representing a
53.7 percent increase over the first quarter 2006 total of 4,086. The
first quarter 2007 business filing total also represented a 12.42
percent increase over the fourth quarter 2006 total of
color='black'>5,586.

While representing an increase
over the first quarter 2006 totals, the 2007 first quarter filings are
still below the 341,662 first quarter filing average recorded since
1997. This filing shortfall reflects the changes brought about by the
implementation of the Bankruptcy Abuse Prevention and Consumer
Protection Act of 2005 (BAPCPA). The new law, implemented on Oct. 17,
2005, requires that consumers first go through credit counseling before
being eligible for bankruptcy. The new law also reduces the scope of
bankruptcy relief.

The 695,575 total filings for
the 12-month period ending March 31 were down 61.24 percent from the
same period in 2006, which totaled 1,794,795 filings. Nonbusiness
filings for the 12-month period ending March 31, 2007, totaled 673,615,
down 61.72 percent from the 1,759,503 total nonbusiness filings in the
12-month period ending March 31, 2006. Business filings for the 12-month

period ending March 31, 2007, totaled 21,960, down 37.78 percent from
the 35,292 bankruptcy petitions filed in the 12-month period ending
March 31, 2006.

The 413,294 total chapter 7
filings for the 12-month period ending March 31, 2007, represent a 71.14

percent decrease from the 1,432,074 filings from the same period in
2006. Chapter 13 filings fell 22.24 percent to 276,649 in the 12-month
period ending March 31, 2007 from 355,756 in the same period last year.
Chapter 11 filings also declined, falling 19.98 percent to 5,199 in 2007

from 6,497 in 2006. Chapter 12 filings rose 1.64 percent from 366 in
2006 to 372 in 2007.

BUSINESS FILINGS
for the 3-month period ending March 31, 2007, totaled 6,280, up 53.7
percent from the 4,086 bankruptcy business cases filed in the same
period in 2006. NON-BUSINESS FILINGS for the 3-month period
ending March 31, 2007, increased 66.27 percent from 112,685 in 2006 to
187,361 in 2007.

The chapter* breakdown of
BUSINESS filings for the 3-month period ending March 31, 2007,
is: 4,071 chapter 7s, 1,283 chapter 11s, 104 chapter 12s and 817 chapter

13s.

The chapter breakdown of
NON-BUSINESS filings for the 3-month period ending March 31,
2007, is: 113,659 chapter 7s, 123 chapter 11s and 73,579 chapter
13s.

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

1. District of the
   w:st='on'>Northern Mariana Islands: 27.59%
   
2. Western District of

   w:st='on'>Tennessee

   :
   33.93%
   
3. Southern District of Georgia:
   35.65%   
   
4. Northern District of Georgia:
   38.28%
   
5. Middle District of
   w:st='on'>Tennessee:
   38.49%

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

1. Eastern District of Louisiana:

   78.87%

    
   
   
   size='3'>     
2. Eastern District of Oklahoma:
   77.90%
   
3. Southern District of West
   Virginia: 77.24%      
   
4. Western District of

   w:st='on'>Oklahoma

   :
   77.18%
   
5. District of Arizona:
   75.24%

###

size='3'>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
w:st='on'>ABI membership includes more than 11,500
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='http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>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

CONSUMER
BANKRUPTCY FILINGS INCREASE NEARLY 12 PERCENT IN MAY

June 6, 2007,
Alexandria,
w:st='on'>Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings increased 11.5 percent nationwide in May from the previous
month, said the American Bankruptcy Institute (
w:st='on'>ABI). Relying on data from the National
Bankruptcy Research Center (NBKRC), overall consumer filings totaled
69,684 in May, up from 62,489 filings in April. The figure was also up
51.3 percent from May 2006. Chapter 13 filings constituted 36.5 percent
of all consumer cases in May, down slightly from earlier this
year.   

“Personal bankruptcies
continue to be more volatile this year than in 2006,” said Samuel
J. Gerdano, ABI Executive
Director. “Overall, consumer bankruptcies are higher than last
year, but still well below the levels of 2004-05.”

###

size='3'>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
w:st='on'>ABI membership includes more than 11,500
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='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' size='3'>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 INCREASE NEARLY 12 PERCENT IN MAY

June 6, 2007,
Alexandria,
w:st='on'>Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings increased 11.5 percent nationwide in May from the previous
month, said the American Bankruptcy Institute (
w:st='on'>ABI). Relying on data from the National
Bankruptcy Research Center (NBKRC), overall consumer filings totaled
69,684 in May, up from 62,489 filings in April. The figure was also up
51.3 percent from May 2006. Chapter 13 filings constituted 36.5 percent
of all consumer cases in May, down slightly from earlier this
year.   

“Personal bankruptcies
continue to be more volatile this year than in 2006,” said Samuel
J. Gerdano, ABI Executive
Director. “Overall, consumer bankruptcies are higher than last
year, but still well below the levels of 2004-05.”

###

size='3'>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
w:st='on'>ABI membership includes more than 11,500
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='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' size='3'>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 FALL 15 PERCENT IN APRIL

May 14, 2007,
Alexandria,
w:st='on'>Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings fell 15 percent nationwide in April from the previous month,
said the American Bankruptcy Institute (ABI). Relying on data from the
National Bankruptcy Research Center (NBKRC), overall consumer filings
totaled 62,489 in April, a figure that was up 33.6 percent from April
2006. Chapter 13 filings constituted 37 percent of all consumer cases in

April, down slightly from earlier this year.   

“Though bankruptcy
filings are elevated from a year ago, overall levels are still at about
one-third the rate experienced before Congress changed the laws,”
said Samuel J. Gerdano, ABI Executive Director.

###

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 11,500 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='http://www.abiworld.org/conferences.html'>
size='3'>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

CONSUMER
BANKRUPTCY FILINGS FALL 15 PERCENT IN APRIL

May 14, 2007,
Alexandria,
w:st='on'>Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings fell 15 percent nationwide in April from the previous month,
said the American Bankruptcy Institute (ABI). Relying on data from the
National Bankruptcy Research Center (NBKRC), overall consumer filings
totaled 62,489 in April, a figure that was up 33.6 percent from April
2006. Chapter 13 filings constituted 37 percent of all consumer cases in

April, down slightly from earlier this year.   

“Though bankruptcy
filings are elevated from a year ago, overall levels are still at about
one-third the rate experienced before Congress changed the laws,”
said Samuel J. Gerdano, ABI Executive Director.

###

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 11,500 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='http://www.abiworld.org/conferences.html'>
size='3'>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

2006
BANKRUPTCIES FALL TO LOWEST LEVELS SINCE 1980s

size='3'>April 17, 2007 Alexandria,
Va.
size='3'>—Bankruptcy filings in the
w:st='on'>
size='3'>United States
size='3'>dropped to their lowest level since 1988 as calendar year 2006
filings plunged following the implementation of the new bankruptcy law
in 2005, according to data from the Administrative Office of the U.S.
Courts (AOUSC). One year after the Bankruptcy Abuse Prevention and
Consumer Protection Act of 2005 (BAPCPA) was implemented on Oct. 17,
2005, total bankruptcy filings for calendar year 2006 dropped to
617,660, representing the lowest filing total since 613,465 total
filings were recorded for the 12-month period ending Dec.31, 1988. The
total filings for the 12-month period ending Dec. 31, 2006, represent a
70.28 percent decrease compared with the record total of 2,078,415
filings for the same period in 2005.

Consumer bankruptcies
recorded the sharpest decrease; the 597,965 consumer filings during
calendar year 2006 represented a 70.68 percent drop in filings from the
record 2,039,214 filings made during the 12-month period ending Dec. 31,

2005. The 12-month filing total for 2006 was the lowest since the

549,612 filings were recorded for the
size='3'>12-month period ending Dec. 31,
1988.  

'The final government
statistics merely confirm what all in the bankruptcy world had already
experienced: a historic drop-off in 2006 activity almost entirely due to

the after-effect of the 2005 law changes,' said ABI Executive Director
Samuel J. Gerdano. 'But as the debt burden on the household sector
remains high, most expect consumer bankruptcies to bounce back by the
end of this year,' he said.

While the number of
consumer filings reached their lowest point since 1988, the 2006
calendar year consumer filings revealed a noticeable shift in the type
of bankruptcies being filed by consumers. Largely the result of stricter

requirements under BAPCPA, the 248,430 chapter 13
cases filed for the 12-month period ending Dec. 31, 2006, represented
41.55 percent of the overall consumer filing total. The 349,012
consumers who filed for chapter 7 during the 12-month period ending Dec.

31, 2006, comprised 58.37 percent of the total consumer filings for the
2006 calendar year. The filing pattern was vastly different from 2005,
when there were 1,631,011 chapter 7 cases filed, representing 79.98
percent of total bankrupt consumer filings, while only 19.97 percent of
consumer cases, representing 407,322 filings, were filed under chapter
13 during the 12-month period ending Dec. 31, 2005.

The 19,695 business filings
during the 12-month period ending Dec. 31, 2006, were the lowest on
record under the current statistics reporting system, which was
implemented in 1980. The previous lowest business filing total for a
12-month period was recorded in 2004, with 34,317 business bankruptcies
filed. The 2006 filing total also represents 49.78 percent decrease from

the 39,201 business bankruptcy filings during the 12-month period ending

Dec. 31, 2005.

The 177,599 total bankruptcies
recorded during the 4th calendar quarter of 2006 (Oct.1-Dec. 31, 2006)
represent a 73.39 percent drop from the 667,431 filings during the
similar period in 2005. Total filings for the month of October
registered a 90.23 percent drop from 2005 as 61,592 filings were
recorded for the month in 2006 as compared to the 630,497 cases that
were filed in October 2005 leading up to the implementation of BAPCPA
that year. Despite the drop-off from the previous year, the 2006 4th
calendar quarter filing total was the highest of any previous quarter
for 2006 and represented a 3.63 percent increase over the 3rd quarter
(July 1 – Sept. 30) total of 171,146.

The 172,013 consumer filings in

the 4th quarter of 2006 represent a 73.72 percent decrease in comparison

to the 654,633 consumer filings for the same quarter of 2005. The
consumer filing total for the 4th calendar quarter did, however,
represent a 3.58 percent increase from the previous total of 165,862
filings from the 3rd quarter of 2006.

Business filings, which totaled

5,586 for the 4th calendar quarter of 2006, represented a 56.35 percent
decrease from the 12,798 filed in the same 3-month period in 2005 (Oct.
1-Dec. 31). Business filings did rise from the previous quarter as the
4th calendar quarter represented a 5.41 percent increase over 5,284
business filings reported during the 3rd quarter of 2006 (July 1- Sept.
30).

The chapter* breakdown
of BUSINESS
filings for the 3-month period ending Dec.31, 2006, is
3,567 chapter 7s, 1,170 chapter 11s, 74 chapter 12s and 763 chapter
13s.

The chapter breakdown
of
size='3'>NONBUSINESS filings for the 3-month
period ending Dec. 31, 2006, is 98,824 chapter 7s, 134 chapter 11s and
73,052 chapter 13s.

Districts with the LOWEST PERCENTAGE
DECREASE in Total Filings for the 12-month period ending Dec. 31, 2006
(compared to the identical period in 2005):

1. Western District
   of Tennessee
   size='3'>: 45.29%
2. Southern District
   of Georgia: 46.49%
3. District of the
   Northern
   Mariana Islands:
   46.88%
4. Northern District
   of Georgia: 51.22%
5. Middle District
   of Tennessee
   size='3'>: 51.68%

Districts with the HIGHEST PERCENTAGE
DECREASE in Total Filings for the 12-month period ending Dec. 31, 2006
(compared to the identical period in 2005):

1. Eastern District of Louisiana:

   85.14%

2. Southern District of West
   Virginia: 84.01%
3. Eastern District of Oklahoma:
   83.75%
4. Western District
   of Oklahoma
   size='3'>: 81.79%
5. Northern District of West
   Virginia: 81.21%

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'>.

###

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 11,500 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'>.

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. 

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.