Bankruptcy filings rose 20 percent in the 12-month period ending June 30, 2010, the highest number of bankruptcy filings for any period since many of the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 took effect.
According to statistics released Tuesday by the Administrative Office of the U.S. Courts, a total of 1,572,597 bankruptcy cases were filed in federal courts in that period, compared to 1,306,315 bankruptcy cases filed in the 12-month period ending June 30, 2009.
Non-business filings for the 12-month period ending June 30, 2010 totaled 1,512,989, up 21 percent compared to the 1,251,294 non-business filings for June 30, 2009. Business filings totaled 59,608, up 8 percent from the 55,021filings reported in June 30, 2009.
In the 12-month period ending June 30, 2010 increased filings were seen in all bankruptcy chapters. Chapter 7 filings totaled 1,133,320 up 25 percent from the 907,603 Chapter 7 filings in the 12-month period ending June 30, 2009. Chapter 13 filings totaled 424,242, up 10 percent from the 384,187 filings in the same time period in June 2009.
Chapter 11 filings totaled 14,272, up 2 percent from the 13,951 filings during the 12-month period ending June 30, 2009. Chapter 12 filings rose 56 percent to 660 from the 422 Chapter 12 bankruptcies filed as of June 30, 2009.
Third quarter filings for the three-month period ended June 30, 2010, totaled 422,061. Filings for the June quarter were the highest of any quarter in fiscal year 2010 (Oct. 1, 2009 Sept. 30, 2010) and the highest for any April-June quarter since the 2005 third quarter filings.
For fiscal year 2010, filings for the first quarter (Oct. 1, 2009 Dec. 31, 2009) totaled 372,203 and second quarter filings (Jan. 1, 2010 March 31, 2010) totaled 388,148.
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