%1

Contact: John Hartgen

             703-894-5935

            

jhartgen@abiworld.org

November 2, 2010, Alexandria, Va.— U.S.
consumer bankruptcy filings totaled 132,173 nationwide during October, a

1.4 percent increase over the 130,329 total consumer filings recorded in

September, according to the American Bankruptcy Institute (ABI), relying

on data from the National Bankruptcy Research Center (NBKRC). While the
October consumer filings represented an increase from the previous
month, they represented a 2.75 percent decrease from the October 2009
total of 135,913. Chapter 13 filings constituted 29.7 percent of all
consumer cases in October, a slight decrease from September.



“As the issues of unemployment and economic stress weigh heavily
on today’s elections, consumers continue to seek the financial
shelter of bankruptcy,” said ABI Executive DirectorSamuel J.
Gerdano. “We anticipate that there will be nearly 1.6 million
consumer bankruptcy filings 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
12,600 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
class='Apple-converted-space'> 
face='Arial'>www.abiworld.org. For additional conference
information, visit 
style='COLOR: rgb(42,93,176)'
href='http://www.abiworld.org/conferences.html' target='_blank'>

face='Arial'>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 

target='_blank'>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. 
class='Apple-converted-space'> 

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.
class='Apple-converted-space'> 

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

CONSUMER BANKRUPTCY FILINGS UP 11 PERCENT
THROUGH NINE MONTHS OF 2010

October 4, 2010, Alexandria, Va.— U.S. consumer
bankruptcy filings totaled 1,165,172 nationwide during the first nine
months of 2010 (Jan. 1-Sept. 30), an 11 percent increase over the
1,046,449 total consumer filings during the same period a year ago,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The consumer
filings for the three-quarters of 2010 represent the highest total since

2005, when Congress enacted the Bankruptcy Abuse Prevention and Consumer

Protection Act (BAPCPA) to try and stem the tide of filings.

 

“While the 2005 bankruptcy overhaul law aimed to reduce filings,
overall consumer debt and continued financial stress have led to
consumer bankruptcies climbing back to pre-BAPCPA levels,” said
ABI Executive Director Samuel J. Gerdano. “We
expect that there will be nearly 1.6 million new bankruptcy filings by
year end.”

 

The overall September consumer filing total of 130,329 was 4.4 percent
more than the 124,790 consumer filings recorded in September 2009.
The September total also represented a 3.3 percent increase from the
August 2010 total of 127,028 consumer filings. Chapter 13 filings
constituted 30 percent of all consumer cases in September, a slight
increase from August.

###

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
12,600 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.

Contact: John Hartgen

            

703-894-5935

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

CONSUMER BANKRUPTCY FILINGS UP 11 PERCENT
THROUGH NINE MONTHS OF 2010

October 4, 2010, Alexandria, Va.— U.S. consumer
bankruptcy filings totaled 1,165,172 nationwide during the first nine
months of 2010 (Jan. 1-Sept. 30), an 11 percent increase over the
1,046,449 total consumer filings during the same period a year ago,
according to the American Bankruptcy Institute (ABI), relying on data
from the National Bankruptcy Research Center (NBKRC). The consumer
filings for the three-quarters of 2010 represent the highest total since

2005, when Congress enacted the Bankruptcy Abuse Prevention and Consumer

Protection Act (BAPCPA) to try and stem the tide of filings.

 

“While the 2005 bankruptcy overhaul law aimed to reduce filings,
overall consumer debt and continued financial stress have led to
consumer bankruptcies climbing back to pre-BAPCPA levels,” said
ABI Executive Director Samuel J. Gerdano. “We
expect that there will be nearly 1.6 million new bankruptcy filings by
year end.”

 

The overall September consumer filing total of 130,329 was 4.4 percent
more than the 124,790 consumer filings recorded in September 2009.
The September total also represented a 3.3 percent increase from the
August 2010 total of 127,028 consumer filings. Chapter 13 filings
constituted 30 percent of all consumer cases in September, a slight
increase from August.

###

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
12,600 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.

Contact: John Hartgen

            

703-894-5935

            

jhartgen@abiworld.org

AUGUST
CONSUMER BANKRUPTCY FILINGS FALL 8 PERCENT THIS MONTH

September 1, 2010,
Alexandria, Va.— The 127,028 consumer bankruptcies

filed in August represented a 8 percent decrease nationwide over the
137,698 filings recorded in July 2010, according to the American
Bankruptcy Institute (ABI), relying on data from the National Bankruptcy

Research Center (NBKRC). Though a decrease from the previous month,
NBKRC’s data also showed that the August 2010 consumer filings
represented a 6 percent increase from the 119,874 consumer filings
recorded in August 2009. Chapter 13 filings constituted 29 percent of
all consumer cases in August, a slight increase from July.

“While monthly filings
are volatile, consumer bankruptcies are still the highest they have been

since Congress overhauled the bankruptcy law in 2005,” said ABI
Executive Director Samuel J. Gerdano. “Consumer filings
remain on track to top 1.6 million filings in 2010.”

###

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 12,600 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
color='#0000ff' size='3' face='Times New



Roman'>http://www.abiworld.org/conferences.html

size='3' face='Times New Roman'>.

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

*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

AUGUST
CONSUMER BANKRUPTCY FILINGS FALL 8 PERCENT THIS MONTH

September 1, 2010,
Alexandria, Va.— The 127,028 consumer bankruptcies

filed in August represented a 8 percent decrease nationwide over the
137,698 filings recorded in July 2010, according to the American
Bankruptcy Institute (ABI), relying on data from the National Bankruptcy

Research Center (NBKRC). Though a decrease from the previous month,
NBKRC’s data also showed that the August 2010 consumer filings
represented a 6 percent increase from the 119,874 consumer filings
recorded in August 2009. Chapter 13 filings constituted 29 percent of
all consumer cases in August, a slight increase from July.

“While monthly filings
are volatile, consumer bankruptcies are still the highest they have been

since Congress overhauled the bankruptcy law in 2005,” said ABI
Executive Director Samuel J. Gerdano. “Consumer filings
remain on track to top 1.6 million filings in 2010.”

###

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 12,600 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
color='#0000ff' size='3' face='Times New



Roman'>http://www.abiworld.org/conferences.html

size='3' face='Times New Roman'>.

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

*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 U.S. BANKRUPTCIES IN FIRST HALF OF 2010 UP 14

PERCENT OVER FIRST HALF OF 2009

August 17, 2010, Alexandria, Va.— The total number of
U.S. bankruptcies filed during the first six months of 2010 increased 14

percent over the same six-month period in 2009, according to data
released today by the Administrative Office of the U.S. Courts. Total
filings reached 810,209 during the first half of the calendar year of
2010 (January 1-June 30), compared to 711,550 cases filed over the same
period in 2009. The totals represent the highest number of filings for
the first six months of a calendar year since 2005, when the Bankruptcy
Code was amended.

“Bankruptcy continues to be the last resort for many Americans
seeking financial relief from household debt, unemployment and the
economic downturn,” said ABI Executive Director
size='3'>Samuel J.
Gerdano. “The first half 2010 filings show that
bankruptcies are on pace to surpass 1.6 million by year
end.”

Business filings decreased 4 percent for the six-month period ending
June 30, 2010, to 29,059 from the first-half 2009 total of 30,333.
Chapter 11 business reorganizations registered the sharpest decrease, as

the 6,152 filings during the first half of 2010 represented a 17 percent

drop from the 7,396 total chapter 11 business filings during the first
half of 2009. Chapter 7 business liquidations remained nearly unchanged,

as there were 20,385 in the first half of 2010, a half percent increase
from the 20,375 business chapter 7 filings during the same period in
2009.

Filings by individuals or households with consumer debt increased 15
percent to 781,150 for the six-month period ending June 30, 2010, from
the 2009 first-half total of 681,217. Consumers filing for chapter 7
protection increased 17 percent to 571,417 during the first half of 2010

from 489,128 during the first six months of 2009. Consumer chapter 13
filings increased as well, rising 9 percent as 208,778 consumers filed
for chapter 13 in the first half of 2010 from 191,458 during the first
half of 2009.

The 422,061 total filings for the second calendar quarter 2010 (April

1-June 30) represented a 11 percent increase from the second quarter
2009 filing total of 381,073. Consumer filings increased 12 percent from

365,059 recorded in the second quarter of 2009 to 407,609 filings in the

second quarter 2010. Business filings decreased 10 percent from 16,014
in the second quarter 2009 to 14,452 filings in the second quarter of
2010.

The 1,572,597 total filings for the 12-month period ending June 30,
2010, represented a 20 percent increase from the same period in 2009,
which totaled 1,306,315. The bankruptcy filing rate per thousand U.S.
residents totaled 5.05 for all chapters during the 12-month period
ending June 30, 2010, as 3.64 Americans per thousand filed for chapter 7

while 1.36 per thousand filed for chapter 13 bankruptcy.

Nevada maintained its position as the state with as the state with
the highest per capita filing rate in the country, with 11.74 residents
per thousand filing in all chapters, and also had the highest per capita

filing rate for chapter 7 filings at 8.71. The state with the highest
per capita filing rate for chapter 13 bankruptcy was Alabama at 4.16 per

thousand for the 12-month period ended June 30, 2010.

Nonbusiness filings for the 12-month period ending June 30, 2010,
were up to 1,521,989, a 21 percent increase from the 1,251,294 total
nonbusiness filings over the same period in 2009. Business filings for
the 12-month period ending June 30, 2010, totaled 59,608, up 8 percent
from the 55,021 bankruptcy petitions filed in the 12-month period ending

June 30, 2009.

The 1,133,320 total chapter 7
filings for the 12-month period ending June 30, 2010, represent a 25
percent increase from the 907,603 filings from the same period in 2009.
Total chapter 11 filings increased 2 percent to 14,272 in the 12-month
period ending June 30, 2010 from 13,951 during the same period in 2009.
Total chapter 13 filings also increased 10 percent to 424,242 in the
12-month period ending June 30, 2010, from 384,187 during the same
period last year. Chapter 12 filings increased 56 percent from 422 in
the 12-month period ending June 30, 2009 to 660 for the same period in
2010.

Chapter breakdowns of BUSINESS filings for the 3-month period ending
June 30, 2010: 10,311 chapter 7s; 2,859 chapter 11s; 194 chapter
12s; and 1,071 chapter 13s.

Chapter breakdown of NON-BUSINESS filings for the 3-month period ending
June 30, 2010: 299,369 chapter 7s; 511 chapter 11s; and 107,727
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
12,600 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
href='http://www.abiworld.org/conferences.html'>
face='Times New
Roman'>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 U.S. BANKRUPTCIES IN FIRST HALF OF 2010 UP 14

PERCENT OVER FIRST HALF OF 2009

August 17, 2010, Alexandria, Va.— The total number of
U.S. bankruptcies filed during the first six months of 2010 increased 14

percent over the same six-month period in 2009, according to data
released today by the Administrative Office of the U.S. Courts. Total
filings reached 810,209 during the first half of the calendar year of
2010 (January 1-June 30), compared to 711,550 cases filed over the same
period in 2009. The totals represent the highest number of filings for
the first six months of a calendar year since 2005, when the Bankruptcy
Code was amended.

“Bankruptcy continues to be the last resort for many Americans
seeking financial relief from household debt, unemployment and the
economic downturn,” said ABI Executive Director
size='3'>Samuel J.
Gerdano. “The first half 2010 filings show that
bankruptcies are on pace to surpass 1.6 million by year
end.”

Business filings decreased 4 percent for the six-month period ending
June 30, 2010, to 29,059 from the first-half 2009 total of 30,333.
Chapter 11 business reorganizations registered the sharpest decrease, as

the 6,152 filings during the first half of 2010 represented a 17 percent

drop from the 7,396 total chapter 11 business filings during the first
half of 2009. Chapter 7 business liquidations remained nearly unchanged,

as there were 20,385 in the first half of 2010, a half percent increase
from the 20,375 business chapter 7 filings during the same period in
2009.

Filings by individuals or households with consumer debt increased 15
percent to 781,150 for the six-month period ending June 30, 2010, from
the 2009 first-half total of 681,217. Consumers filing for chapter 7
protection increased 17 percent to 571,417 during the first half of 2010

from 489,128 during the first six months of 2009. Consumer chapter 13
filings increased as well, rising 9 percent as 208,778 consumers filed
for chapter 13 in the first half of 2010 from 191,458 during the first
half of 2009.

The 422,061 total filings for the second calendar quarter 2010 (April

1-June 30) represented a 11 percent increase from the second quarter
2009 filing total of 381,073. Consumer filings increased 12 percent from

365,059 recorded in the second quarter of 2009 to 407,609 filings in the

second quarter 2010. Business filings decreased 10 percent from 16,014
in the second quarter 2009 to 14,452 filings in the second quarter of
2010.

The 1,572,597 total filings for the 12-month period ending June 30,
2010, represented a 20 percent increase from the same period in 2009,
which totaled 1,306,315. The bankruptcy filing rate per thousand U.S.
residents totaled 5.05 for all chapters during the 12-month period
ending June 30, 2010, as 3.64 Americans per thousand filed for chapter 7

while 1.36 per thousand filed for chapter 13 bankruptcy.

Nevada maintained its position as the state with as the state with
the highest per capita filing rate in the country, with 11.74 residents
per thousand filing in all chapters, and also had the highest per capita

filing rate for chapter 7 filings at 8.71. The state with the highest
per capita filing rate for chapter 13 bankruptcy was Alabama at 4.16 per

thousand for the 12-month period ended June 30, 2010.

Nonbusiness filings for the 12-month period ending June 30, 2010,
were up to 1,521,989, a 21 percent increase from the 1,251,294 total
nonbusiness filings over the same period in 2009. Business filings for
the 12-month period ending June 30, 2010, totaled 59,608, up 8 percent
from the 55,021 bankruptcy petitions filed in the 12-month period ending

June 30, 2009.

The 1,133,320 total chapter 7
filings for the 12-month period ending June 30, 2010, represent a 25
percent increase from the 907,603 filings from the same period in 2009.
Total chapter 11 filings increased 2 percent to 14,272 in the 12-month
period ending June 30, 2010 from 13,951 during the same period in 2009.
Total chapter 13 filings also increased 10 percent to 424,242 in the
12-month period ending June 30, 2010, from 384,187 during the same
period last year. Chapter 12 filings increased 56 percent from 422 in
the 12-month period ending June 30, 2009 to 660 for the same period in
2010.

Chapter breakdowns of BUSINESS filings for the 3-month period ending
June 30, 2010: 10,311 chapter 7s; 2,859 chapter 11s; 194 chapter
12s; and 1,071 chapter 13s.

Chapter breakdown of NON-BUSINESS filings for the 3-month period ending
June 30, 2010: 299,369 chapter 7s; 511 chapter 11s; and 107,727
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
12,600 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
href='http://www.abiworld.org/conferences.html'>
face='Times New
Roman'>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

JULY CONSUMER BANKRUPTCY FILINGS UP 9 PERCENT FROM
LAST MONTH, YEAR

August 3, 2010, Alexandria, Va.
size='3' face='Times New Roman'>— The 137,698 consumer
bankruptcies filed in July represented a 9 percent increase nationwide
over the 126,434 filings recorded in July 2009, according to the
American Bankruptcy Institute (ABI), relying on data from the National
Bankruptcy Research Center (NBKRC). NBKRC’s data also showed that
the July consumer filings represented a 9 percent increase from the
126,270 consumer filings recorded in June 2010. Chapter 13
filings constituted 28 percent of all consumer cases in July, a slight
increase from June.

“Debt burdens, unemployment and an uncertain economic climate
continue to weigh on consumers,” said ABI Executive Director

size='3'>Samuel J.
Gerdano. “The pace of consumer filings this year
remains on track to top 1.6 million filings.”

###

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
12,600 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
href='http://www.abiworld.org/conferences.html'>
face='Times New
Roman'>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
color='#0000ff' face='Times New
Roman'>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

JULY CONSUMER BANKRUPTCY FILINGS UP 9 PERCENT FROM
LAST MONTH, YEAR

August 3, 2010, Alexandria, Va.
size='3' face='Times New Roman'>— The 137,698 consumer
bankruptcies filed in July represented a 9 percent increase nationwide
over the 126,434 filings recorded in July 2009, according to the
American Bankruptcy Institute (ABI), relying on data from the National
Bankruptcy Research Center (NBKRC). NBKRC’s data also showed that
the July consumer filings represented a 9 percent increase from the
126,270 consumer filings recorded in June 2010. Chapter 13
filings constituted 28 percent of all consumer cases in July, a slight
increase from June.

“Debt burdens, unemployment and an uncertain economic climate
continue to weigh on consumers,” said ABI Executive Director

size='3'>Samuel J.
Gerdano. “The pace of consumer filings this year
remains on track to top 1.6 million filings.”

###

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
12,600 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
href='http://www.abiworld.org/conferences.html'>
face='Times New
Roman'>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
color='#0000ff' face='Times New
Roman'>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.