%1

February Consumer Bankruptcy Filings Increase 29 Percent over Last Year

Submitted by webadmin on Tue, 2009-03-03 00:00

Contact: John Hartgen

(703) 739-0800

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'>.

NBKRC is an online research
center that offers subscribers access to up-to-date research and
statistics on bankruptcy filings. The database contains complete
information dating back to 1995. For more information on NBKRC, please
visit
href='http://www.nbkrc.com/'>
color='#0000ff' size='3'>http://www.nbkrc.com
face='Times New Roman' size='3'>.

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

ABI Tags

Press Release

Tuesday, March 3, 2009 - 12:00

January Consumer Bankruptcy Filings Increase 34 Percent over Last Year

Submitted by webadmin on Tue, 2009-02-03 00:00

Contact: John Hartgen

(703) 739-0800

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

JANUARY
CONSUMER BANKRUPTCY FILINGS INCREASE 34 PERCENT OVER LAST
YEAR

size='3'>February 3, 2009, Alexandria, Va
size='3'>.
size='3'>— U.S. consumer bankruptcy
filings increased 34.4 percent nationwide in January 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 January consumer filing total of 88,773 represented a slight

increase from the December total of 84,926.

Chapter 13 filings constituted 32.8 percent of all
consumer cases in January, a slight increase from
December.

“U.S. households
are under great financial stress today; for many, bankruptcy seems to be

their best option,” said ABI Executive Director
face='Times New Roman' size='3'>Samuel J. Gerdano
size='3'>. “We expect more than 1.4 million new cases filed
in 2009.”

###

ABI is the largest
multi-disciplinary, nonpartisan organization dedicated to research and
education on matters related to insolvency. ABI was founded in 1982 to
provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes more than 11,700 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org. For additional conference information,
visit
title='blocked::http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

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.

ABI Tags

Press Release

http://thomas.loc.gov/cgi-bin/bdquery/z?d109%3Ah_r_03958%3A=

Tuesday, February 3, 2009 - 12:00

January Consumer Bankruptcy Filings Increase 34 Percent over Last Year

Submitted by webadmin on Tue, 2009-02-03 00:00

Contact: John Hartgen

(703) 739-0800

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

JANUARY
CONSUMER BANKRUPTCY FILINGS INCREASE 34 PERCENT OVER LAST
YEAR

relying on data from the National Bankruptcy Research Center (NBKRC).
The overall January consumer filing total of 88,773 represented a slight

increase from the December total of 84,926.

Chapter 13 filings constituted 32.8 percent of all
consumer cases in January, a slight increase from
December.

“U.S. households
are under great financial stress today; for many, bankruptcy seems to be

their best option,” said ABI Executive Director
face='Times New Roman' size='3'>Samuel J. Gerdano
size='3'>. “We expect more than 1.4 million new cases filed
in 2009.”

###

ABI is the largest
multi-disciplinary, nonpartisan organization dedicated to research and
education on matters related to insolvency. ABI was founded in 1982 to
provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes more than 11,700 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org. For additional conference information,
visit
title='blocked::http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

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.

ABI Tags

Press Release

Tuesday, February 3, 2009 - 12:00

Bankruptcies to Increase More Than 35 Percent in 2009 According to Latest ABI Quick Poll

Submitted by webadmin on Mon, 2009-01-26 00:00

Contact: John Hartgen

size='3'>

(703) 739-0800

size='3'>

href='mailto:jhartgen@abiworld.org'>
color='#0000ff' size='3'>jhartgen@abiworld.org

BANKRUPTCIES
TO INCREASE MORE THAN 35 PERCENT IN 2009, ACCORDING TO LATEST ABI QUICK
POLL

size='3'>January 26, 2009, Alexandria, Va.
size='3'>— A majority of respondents (65 percent) in a recent ABI
Quick Poll predicted that bankruptcies in 2009 would increase by at
least 35 percent over the nearly 1.1 million cases filed in
2008. Fifty-three percent of

respondents predicted that filings would increase by 35 percent or more
while 12 percent thought that filings would increase by about 35
percent.

Thirty-three percent predicted
that the 2009 filing total would represent an increase of 30 percent or
less from the 2008 figure. Seventeen percent of respondents thought that

bankruptcies would increase 30 percent, while 16 percent thought that
the 2009 filings would increase 25 percent or less over the 2008
total.

Bankruptcies totaled nearly 1.1

million in 2008, with more than 97 percent of the cases filed by
consumers, representing an increase of more than 30 percent over the
2007 filing total. Bankruptcies have increased nearly 35 percent each
year since 2006, when filings reached their lowest levels since the
1980s following the implementation of the Bankruptcy Abuse Prevention
and Consumer Protection Act of 2005.

ABI members and members of the
public were welcome to submit their response to the statement:
“Bankruptcies rose more than 30 percent in 2008 to nearly 1.1
million new cases, with more than 97 percent of cases filed by
consumers. Filings will rise by what percentage in
2009?”

ABI’s Quick Poll is
posted on ABI’s home page,
href='http://www.abiworld.org/'>
size='3'>www.abiworld.org
size='3'>. ABI members and the public are invited to respond to a
question on a timely bankruptcy or insolvency issue. Visit
href='http://www.abiworld.net/quickpoll/'>
color='#0000ff' size='3'>http://www.abiworld.net/quickpoll/
to access the results of previous
ABI Quick Polls.

###

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 nearly 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
face='Times New Roman' color='#0000ff'
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

ABI Tags

Press Release

/sites/default/files/collier/2009/March/marweek4.pdf

Monday, January 26, 2009 - 12:00

Bankruptcies to Increase More Than 35 Percent in 2009 According to Latest ABI Quick Poll

Submitted by webadmin on Mon, 2009-01-26 00:00

Contact: John Hartgen

size='3'>

(703) 739-0800

size='3'>

href='mailto:jhartgen@abiworld.org'>
color='#0000ff' size='3'>jhartgen@abiworld.org

BANKRUPTCIES
TO INCREASE MORE THAN 35 PERCENT IN 2009, ACCORDING TO LATEST ABI QUICK
POLL

respondents predicted that filings would increase by 35 percent or more
while 12 percent thought that filings would increase by about 35
percent.

Thirty-three percent predicted
that the 2009 filing total would represent an increase of 30 percent or
less from the 2008 figure. Seventeen percent of respondents thought that

bankruptcies would increase 30 percent, while 16 percent thought that
the 2009 filings would increase 25 percent or less over the 2008
total.

Bankruptcies totaled nearly 1.1

###

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 nearly 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
face='Times New Roman' color='#0000ff'
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

ABI Tags

Press Release

Monday, January 26, 2009 - 12:00

Consumer Filings Up Nearly 33 Percent in 2008

Submitted by webadmin on Mon, 2009-01-05 00:00

Contact: John Hartgen

(703) 739-0800

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

CONSUMER
BANKRUPTCY FILINGS UP NEARLY 33 PERCENT IN 2008

size='3'>January 5, 2009, Alexandria, Va
size='3'>.
size='3'>— U.S. consumer bankruptcy
filings increased nearly 33 percent nationwide in 2008 from the previous

year, 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 2008 calendar year

(Jan. 1 – Dec. 31, 2008) reached
size='3'>1,064,927 compared to the 801,840 total
consumer filings recorded during 2007.

“Consumers are under
great financial stress, with no immediate end in sight,” said ABI
Executive Director Samuel J. Gerdano. “We expect
the upward spike in personal bankruptcies to continue in
2009.”

However, NBKRC’s data
also showed that the 84,926 consumer filings recorded in December
represented a 15 percent decrease from the 99,925 filings in November.
Chapter 13 filings constituted 32 percent of all consumer cases in
December, a slight decrease from November.

###

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
face='Times New Roman' color='#0000ff'
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

NBKRC is an online research
center that offers subscribers access to up-to-date research and
statistics on bankruptcy filings. The database contains complete
information dating back to 1995. For more information on NBKRC, please
visit http://www.nbkrc.com
face='Times New Roman' size='3'>.

*Definitions from

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

size='3'>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.

ABI Tags

Press Release

Monday, January 5, 2009 - 12:00

Consumer Filings Up Nearly 33 Percent in 2008

Submitted by webadmin on Mon, 2009-01-05 00:00

Contact: John Hartgen

(703) 739-0800

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

CONSUMER
BANKRUPTCY FILINGS UP NEARLY 33 PERCENT IN 2008

size='3'>January 5, 2009, Alexandria, Va
size='3'>.
size='3'>— U.S. consumer bankruptcy
filings increased nearly 33 percent nationwide in 2008 from the previous

(Jan. 1 – Dec. 31, 2008) reached
size='3'>1,064,927 compared to the 801,840 total
consumer filings recorded during 2007.

###

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
face='Times New Roman' color='#0000ff'
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.

NBKRC is an online research
center that offers subscribers access to up-to-date research and
statistics on bankruptcy filings. The database contains complete
information dating back to 1995. For more information on NBKRC, please
visit http://www.nbkrc.com
face='Times New Roman' size='3'>.

*Definitions from

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

size='3'>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.

ABI Tags

Press Release

Monday, January 5, 2009 - 12:00

Total Bankruptcy Filings Up 34 Percent Business Filings Up 61 Percent in Third Quarter

Submitted by webadmin on Mon, 2008-12-15 00:00

Contact: John
Hartgen

703-739-0800

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

TOTAL
BANKRUPTCY FILINGS UP 34 PERCENT, BUSINESS FILINGS UP 61 PERCENT IN
THIRD QUARTER

size='3'>December 15, 2008 Alexandria, Va.—
size='3'>The 292,291 total U.S. bankruptcies filed during the third
quarter of 2008 (July 1 – Sept. 30) represented a 34 percent
increase over the 218,909 cases filed over the same period in 2007,
according to data released today by the Administrative Office of the
U.S. Courts. Total filings for the first nine months of 2008 (Jan. 1
– Sept. 30) were up 35 percent to 841,496, compared to the 622,999

filings during the same period in 2007.

“The dramatic spike

in both personal and business bankruptcies reflects an economy in
distress, with worried consumers over-extended and unable to supply the
spending typically needed to keep the national economy going,”
said ABI Executive Director
size='3'>Samuel J. Gerdano.

The 29,960 business
bankruptcies recorded during the first three quarters of 2008 (Jan. 1
– Sept. 30) have eclipsed the full year 2007 (Jan. 1- Dec. 31)
business filing total of 28,137. Business filings represented the
sharpest increase during the three-month period ending Sept. 30, 2008,
with 11,504 filings, up 61 percent over the 7,167 business filings in
2007. Chapter 11 business filings spiked to 2,485 during the third
quarter of 2008, an increase of 76 percent over the 1,410 filings during

the similar period in 2007. Chapter 7 business filings also increased to

7,927 during the three-month period ending Sept. 30, 2008, representing
a 65 percent increase over the 4,816 filings during the similar period
in 2007.

Consumer filings totaled
280,787 during the third quarter of 2008 (July 1-Sept. 30), representing

a 33 percent increase over the 211,742 filed during the same period of
2007. Consumer chapter 7 filings during the 2008 third quarter totaled
187,227, an increase of 47 percent over the 2007 third quarter total of
127,192. Chapter 13 consumer filings also increased during the
three-month period ending Sept. 30, 2008, with the 93,333 filings,
representing an 11 percent increase over the 84,376 filings during the
same period in 2007.

The 1,042,993 total filings for

the 12-month period ending Sept. 30 were up more than 30 percent from
the same period in 2007, which totaled 801,269. The bankruptcy filing
rate per thousand U.S. residents totaled 3.38 for all chapters during
the 12-month period ending Sept. 30, 2008, as 2.21 Americans per
thousand filed for chapter 7 while 1.15 per thousand filed for chapter
13 bankruptcy, all increases from the similar period a year ago.
Tennessee was the state with the highest per capita filing rate in the
country, with 7.27 residents per thousand filing in all chapters, and
also had the highest per capita filing rate for chapter 13 filings at
4.16. The state with the highest per capita filing rate for chapter 7
bankruptcy was Nevada at 4.30 per thousand for the 12-month period ended

Sept. 30, 2008.

Nonbusiness filings for the
12-month period ending Sept. 30, 2008, totaled 1,004,342, an increase of

30 percent from the 775,344 total nonbusiness filings calculated over
the same period in 2007. Business filings for the 12-month period ending

Sept. 30, 2008, totaled 38,651, up 49 percent from the 25,925 bankruptcy

petitions filed in the 12-month period ending Sept. 30, 2007.

The 679,982 total chapter 7
filings for the 12-month period ending Sept. 30, 2008, represent a 40
percent increase from the 484,162 filings from the same period in 2007.
Chapter 11 filings also increased, rising 49 percent to 8,799 in 2008
from 5,888 in 2007. Total chapter 13 filings increased 14 percent to
353,828 in the 12-month period ending Sept. 30, 2008, from 310,802 in
the same period last year. Chapter 12 filings, however, decreased 8
percent from 361 in 2007 to 332.

size='3'>BUSINESS FILINGS for the 3-month
period ending Sept. 30, 2008, totaled 11,504, up 61 percent from the
7,167 bankruptcy business cases filed in the same period in 2007.

NON-BUSINESS FILINGS

for the 3-month period ending Sept. 30, 2008, increased
33 percent from 211,742 in 2007 to 280,787 in 2008.

The chapter* breakdown
of BUSINESS
filings for the 3-month period ending Sept. 30, 2008, is:

7,927 chapter 7s, 2,485 chapter 11s, 89 chapter 12s and 983 chapter
13s.

The chapter breakdown
of
size='3'>NON-BUSINESS filings for the 3-month
period ending Sept. 30, 2008, is: 187,227 chapter 7s, 227 chapter 11s
and 93,333 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'>.

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.

ABI Tags

Press Release

Monday, December 15, 2008 - 12:00

Total Bankruptcy Filings Up 34 Percent Business Filings Up 61 Percent in Third Quarter

Submitted by webadmin on Mon, 2008-12-15 00:00

Contact: John
Hartgen

703-739-0800

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

TOTAL
BANKRUPTCY FILINGS UP 34 PERCENT, BUSINESS FILINGS UP 61 PERCENT IN
THIRD QUARTER

filings during the same period in 2007.

“The dramatic spike

the similar period in 2007. Chapter 7 business filings also increased to

7,927 during the three-month period ending Sept. 30, 2008, representing
a 65 percent increase over the 4,816 filings during the similar period
in 2007.

Consumer filings totaled
280,787 during the third quarter of 2008 (July 1-Sept. 30), representing

The 1,042,993 total filings for

Sept. 30, 2008.

Nonbusiness filings for the
12-month period ending Sept. 30, 2008, totaled 1,004,342, an increase of

30 percent from the 775,344 total nonbusiness filings calculated over
the same period in 2007. Business filings for the 12-month period ending

Sept. 30, 2008, totaled 38,651, up 49 percent from the 25,925 bankruptcy

petitions filed in the 12-month period ending Sept. 30, 2007.

size='3'>BUSINESS FILINGS for the 3-month
period ending Sept. 30, 2008, totaled 11,504, up 61 percent from the
7,167 bankruptcy business cases filed in the same period in 2007.

NON-BUSINESS FILINGS

for the 3-month period ending Sept. 30, 2008, increased
33 percent from 211,742 in 2007 to 280,787 in 2008.

The chapter* breakdown
of BUSINESS
filings for the 3-month period ending Sept. 30, 2008, is:

7,927 chapter 7s, 2,485 chapter 11s, 89 chapter 12s and 983 chapter
13s.

The chapter breakdown
of
size='3'>NON-BUSINESS filings for the 3-month
period ending Sept. 30, 2008, is: 187,227 chapter 7s, 227 chapter 11s
and 93,333 chapter 13s.

###

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.

ABI Tags

Press Release

Monday, December 15, 2008 - 12:00

November Consumer Bankruptcy Filings Increase 39 Percent over Last Year

Submitted by webadmin on Wed, 2008-12-03 00:00

Contact: John Hartgen

703-442-0133

jhartgen@abiworld.org

NOVEMBER CONSUMER BANKRUPTCY FILINGS INCREASE 39
PERCENT OVER LAST YEAR

December 3, 2008, Alexandria, Va.
face='Times New Roman' size='3'>— U.S. consumer
bankruptcy filings increased 39.2 percent nationwide in November 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 November consumer filing total of 99,925
represented a slight decrease from the October total of 106,266.
Chapter 13 filings constituted 32.7 percent of all consumer cases in
November, a slight increase from October.

“While new bankruptcies dipped slightly in November from the
yearly high reached last month, we are still on track for nearly 1.1
million new cases this year, the highest figure since Congress changed
the bankruptcy laws in 2005,” said ABI Executive Director
size='3'>Samuel J.
Gerdano. “We expect the alarming rate of personal
bankruptcies to continue well into 2009.”

###

analysis of bankruptcy issues. The ABI membership includes more than
11,700 attorneys, accountants, bankers, judges, professors, lenders,
turnaround specialists and other bankruptcy professionals, providing a
forum for the exchange of ideas and information. For additional
information on ABI, visit
face='Times New Roman'>www.abiworld.org. For additional
conference information, visit
title='blocked::http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>http://www.abiworld.org/conferences.html.

NBKRC is an online research center that offers subscribers access to
up-to-date research and statistics on bankruptcy filings. The database
contains complete information dating back to 1995. For more information
on NBKRC, please visit
href='http://www.nbkrc.com/'>
color='#0000ff'>http://www.nbkrc.com.

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

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

a fresh financial start.

size='3'>Chapter 11 of the Bankruptcy
Code is available for both business and consumer debtors. Its purpose is

to rehabilitate a business as a going concern or reorganize an
individual’s finances through a court-approved reorganization
plan.

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

ABI Tags

Press Release

Wednesday, December 3, 2008 - 12:00

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