Washington (May 16, 2003) -- Bankruptcy filings continue to rise hitting a record 1.61 million over a 12-month span ending in March 2002, versus 1.5 million filings for the same period a year earlier.

According to figures from the Administrative Office for the U.S. Courts, business-related filings fell 5.8 percent, to just over 37,500, while non-business filings rose 7.4 percent, to 1.57 million vs. the prior year figures.

Bankruptcies in the first quarter of this year rose to nearly 413,000, representing nearly a 5-percent jump from the year-ago first quarter - the highest figure in nine years, according to the court.

-- WebCPA staff

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