New Year, Less Bankruptcy
Posted By
Majed on Nov 4, 2011 7:00am PDT
The White House says the economy is turning around, and if a new bankruptcy study is any indication, this may be true. According to a report by the United States Court bankruptcy filings were on a downward trend from September 2010 to September 2011.
Chapter 7 petitions were filed 10% less in the past year, going from 1,146,511 total in Fiscal Year 2010 to 1,036,950 in Fiscal Year 2011. Chapter 13 petitions posted a slightly less drastic change, down 4% from Fiscal Year 2010 to Fiscal Year 2011.