TOTAL BANKRUPTCY FILING INCREASE AT RATE OF 8 PERCENT IN 2010, BUSINESS FILINGS INCREASE AT RATE OF 7.5 PERCENT

TOTAL BANKRUPTCY FILING INCREASE AT RATE OF 8 PERCENT IN 2010, BUSINESS FILINGS INCREASE AT RATE OF 7.5 PERCENT


Total bankruptcy filings in the United States increased 8 percent in 2010 over calendar year 2009, according to data released today from the Administrative Office of the U.S. Courts (AOUSC). Bankruptcy filings totaled 1,593,081 for the 12-month period ending Dec. 31, 2010, over the previous year’s total of 1,473,675. Total filings have steadily increased since the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Total bankruptcies reached 2,078,415 in advance of the 2005 changes to the Bankruptcy Code.