Press Release

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.

Friday, July 6, 2007

Contact: John Hartgen

(703) 739-0800

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

CONSUMER
BANKRUPTCY FILINGS REACH HIGHEST MONTHLY TOTAL SINCE 2005 BANKRUPTCY LAW

OVERHAUL

size='3'>August 4, 2009, Alexandria,
Va.— U.S. consumer bankruptcy filings reached 126,434 in July, the

highest monthly total since the Bankruptcy Abuse Prevention and Consumer

Protection Act was implemented in October 2005, according to the
American Bankruptcy Institute (ABI), relying on data from the National
Bankruptcy Research Center (NBKRC). The July 2009 consumer filing total
represented a 34.3 percent increase nationwide from the same period a
year ago, and an 8.7 percent increase over the June 2009 consumer filing

total of 116,365.
size='3'>Chapter 13 filings constituted 28.3 percent of all consumer
cases in July, slightly above the June rate.

'Today's bankruptcy filing number reflects the sustained and growing
financial stress on U.S. households,' said ABI Executive Director

Samuel J.
Gerdano. 'Rising unemployment on top of high
pre-existing debt burdens is a formula for higher bankruptcies through
the end of 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 12,000 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit 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'>.

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.

Tuesday, August 4, 2009

Contact: John Hartgen

size='3'>

(703) 739-0800

size='3'>

size='3'>jhartgen@abiworld.org

TOTAL
BANKRUPTCY FILINGS INCREASE NEARLY 35 PERCENT
face='Times New Roman' size='3'>OVER FIRST QUARTER 2008; BUSINESS
FILINGS JUMP OVER 64 PERCENT

size='3'>June 9, 2009, Alexandria, Va.—
size='3'>The total number of U.S. bankruptcies filed during the first
three months of 2009 increased 34.5 percent over the same period in 2008

nationwide, according to data released today by the Administrative
Office of the U.S. Courts. As total filings reached
size='3'>330,477 during the first calendar year
quarter of 2009 (Jan. 1-March 31), the total surpassed the 245,695 new
cases that were filed over the same period in 2008. The total filings in

the 2009 first quarter also represent a 9.7 percent increase from the
301,317 bankruptcies filed during the fourth quarter of 2008 (Oct. 1
– Dec. 31).

“Consumers and
businesses are increasingly seeking bankruptcy protection in order to
shelter themselves from the financial storms brought on by the current
economic climate,” said
size='3'>Samuel J. Gerdano, ABI Executive
Director. “As unemployment figures continue to rise and
financing remains elusive, we expect filings to surge past 1.4 million
cases by year-end.”

Business filings for the
three-month period ending March 31, 2009 totaled
size='3'>14,319, representing a 64.3 percent increase over the first
quarter 2008 total of 8,713. The first quarter 2009 business filing
total also represented an 11 percent increase over the fourth quarter
2008 total of 12,901.

Consumer filings
increased 33.4 percent to 316,158
size='3'>for the three-month period ending March 31, 2009, from the 2008

first quarter total of 236,982. They also represent an 9.6 percent
increase from the fourth quarter of 2008, which recorded a total of
288,416 nonbusiness filings. The percentage of consumers filing for
chapter 13 protection fell slightly from 35.6 percent during the first
quarter of 2008 (January 1-March 31) to 29.2 percent over the same
period in 2009. The number of consumers filing for chapter 7 protection
increased to 70.8 percent during the first three months of 2009, the
largest percentage of consumer chapter 7 filers since the implementation

of BAPCPA in 2005.

The 12-month filing total

of 1,202,503 for the period
ending March 31, 2009, is an increase of 33.3 percent from the same
period in 2008, which totaled 901,927 filings. Nonbusiness filings for
the 12-month period ending March 31, 2009, totaled
size='3'>1,153,412, up 32.4 percent from the 871,186 total nonbusiness
filings in the 12-month period ending March 31, 2008. Business filings
for the 12-month period ending March 31, 2009, totaled
size='3'>49,091, up 59.7 percent from the 30,741 business bankruptcy
petitions filed in the 12-month period ending March 31,
2008.

The
size='3'>819,362 total chapter 7 filings for the
12-month period ending March 31, 2009, represent a 46.3 percent increase

from the 560,015 filings from the same period in 2008. Total chapter 13
filings increased 10.9 percent to 370,875 in the 12-month period ending
March 31, 2009 from 334,551 in the same period last year.
size='3'> Total chapter 11 filings also
increased, rising 69.1 percent to 11,785 in 2009 from 6,971 in 2008.
Chapter 12 filings increased 7 percent to 367 in 2009 compared to 343
filings in 2008.

The chapter* breakdown
of BUSINESS
filings for the 3-month period ending March 31, 2009,
is: 9,700 chapter 7s,

3,431 chapter 11s, 102 chapter 12s
and 1,045 chapter
13s.

The chapter breakdown
of
size='3'>NON-BUSINESS filings for the 3-month
period ending March 31, 2009, is: 223,760
chapter 7s, 248 chapter 11s and
size='3'>92,150 chapter 13s.

States with the
HIGHEST PER CAPITA FILING
RATE (Total Filings) for the 12-month period
ending March 31, 2009:

size='3'>1. Tennessee

size='3'>2. Nevada

size='3'>3. Alabama

size='3'>4. Georgia

size='3'>5. Indiana

size='3'>6. Michigan

size='3'>7. Ohio

size='3'>8. Kentucky

size='3'>9. Arkansas

size='3'>10. Illinois

Districts with the
Highest Percentage
size='3'>INCREASE in Total Filings for the
12-month period ending March 31, 2009 (compared to the identical period
in 2008):

Central District of
California: 92.9%
District of Delaware:
86.0%
District of Arizona:
82.5%
Southern District of
California: 74.1%
TIE- District of Nevada and
Eastern District of California: 69.9%

Districts with the
Highest Percentage
size='3'>DECREASE in Total Filings for the
12-month period ending March 31, 2009 (compared to the identical period
in 2008):

District of the Northern
Mariana Islands: 38.5%
District of the Virgin
Islands: 26.1%
Middle District of Louisiana:
13.4%
Southern District of Texas:
4.3%

###

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 12,000 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit 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.

Tuesday, June 9, 2009

Contact: John Hartgen

703-894-5935

jhartgen@abiworld.org

FIRST QUARTER CONSUMER BANKRUPTCY FILINGS FALL

6 PERCENT FROM 2010

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

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

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

###

analysis of bankruptcy issues. The ABI membership includes more than
13,000 attorneys, accountants, bankers, judges, professors, lenders,
turnaround specialists and other bankruptcy professionals, providing a
forum for the exchange of ideas and information. For additional
information on ABI, visit
href='http://www.abiworld.org/'>www.abiworld.org. For additional
conference information, visit

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

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

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

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

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

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

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

Monday, April 4, 2011

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.

###

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'>.

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.

Thursday, August 16, 2007 /sites/default/files/LegislativeNews/107thCongress/107HR333b.pdf /sites/default/files/LegislativeNews/107thCongress/107HR333b.pdf

Contact: John Hartgen

(703) 739-0800

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

FEBRUARY
CONSUMER BANKRUPTCY FILINGS INCREASE 29 PERCENT OVER LAST
YEAR

size='3'>March 3, 2009, Alexandria, Va
size='3'>.
size='3'>— U.S. consumer bankruptcy
filings increased 29.2 percent nationwide in February 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 February consumer filing total of 98,344 represented nearly
an 11 percent increase from the January total of 88,773
size='3'>. Chapter 13 filings constituted 30.2
percent of all consumer cases in February, a 2.6 percent decrease from
January.

“We expect at least

1.4 million bankruptcies this year, even more if Congress changes the
law to permit residential home mortgages to be modified in chapter
13,” said ABI Executive Director Samuel J. Gerdano
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 12,000 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit 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'>.

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.

Tuesday, March 3, 2009 /sites/default/files/LegislativeNews/105thCongress/105HR2604b.pdf /sites/default/files/LegislativeNews/105thCongress/105HR2604b.pdf

Contact: John Hartgen

703-739-0800

jhartgen@abiworld.org

FEBRUARY
CONSUMER BANKRUPTCY FILINGS INCREASE 15 PERCENT

March 3, 2008, Alexandria,
Va.—
w:st='on'>
w:st='on'>U.S. consumer bankruptcy
filings increased more than 15.2 percent nationwide in February over the

previous month, according to the American Bankruptcy Institute (ABI),
relying on data from the National Bankruptcy Research Center (NBKRC).
Overall consumer filings totaled 76,120 in February, up from the 66,050
consumer filings recorded in January. The figure was also up 37.3
percent from February 2007. Chapter 13 filings constituted 36.4 percent
of all consumer cases in February, down slightly from last
month.

“February's bankruptcy
spike -- the highest single month since the 2005 law changes --
forecasts the start of more to come for the balance of 2008,” 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 www.abiworld.org. For additional conference information,
visit
href='http://www.abiworld.org/conferences.html'>
size='3'>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.

Monday, March 3, 2008 /sites/default/files/LegislativeNews/105thCongress/105HR2604b.pdf /sites/default/files/LegislativeNews/105thCongress/105HR2604b.pdf

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.

###

*Definitions from

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

Monday, May 14, 2007

Contact: John Hartgen

703-739-0800

jhartgen@abiworld.org

OCTOBER CONSUMER BANKRUPTCY FILINGS TOP 100,000 FOR

FIRST TIME SINCE LAW CHANGE IN 2005

November 4, 2008, Alexandria, Va.- U.S. consumer bankruptcy
filings increased 40 percent nationwide in October 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 October consumer filing total of 106,266 also represented a
20 percent increase from September. Chapter 13 filings constituted 32.6
percent of all consumer cases in October, a slight decrease from
September.

The October consumer filing total also represents the first time that

bankruptcies have topped 100,000 since the Bankruptcy Abuse Prevention
and Consumer Protection Act went into effect in October 2005. The
880,076 consumer filings through the first 10 months of 2008 (Jan. 1 -
Oct. 31) have already eclipsed the filing total of 822,590 for all of
last year.

“October's sharp spike in new consumer bankruptcies confirms
the severe financial stress on household budgets caused by high debts,
flat incomes, and declining home values,” said ABI Executive
Director Samuel
J. Gerdano. “We expect the 2008 numbers to be the

highest since the new bankruptcy law went into effect in
2005.”

###

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' color='#0000ff'>www.abiworld.org. For
additional conference information, visit
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
color='#0000ff'>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.

Tuesday, November 4, 2008 http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=f%3Ah873ih.txt.pdf http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=…

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.

###

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 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.

Wednesday, July 2, 2008

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