Bankruptcy filings hit a record 395,129 for the final three months of
2002. For all of 2002, total bankruptcies filed were 1,577,651, up 5.7%
from 2001. Previously, the largest number of bankruptcies filed in a single
12-month period was in the period between October 1, 2001-September 30,
2002 when it hit 1,547,669 filings. According to the Administrative Office
of the U.S. Courts, of the total number of bankruptcy filings for the
12-month period ending December 31, 2002, there were 1,109,923 Chapter 7
filings, up 5.2% from the 1,054,975 Chapter 7 filings in the same period in
2001. The next largest group of filings was Chapter 13 filings at 455,877,
up 7.2% from the 425,292 filings in calendar year 2001.
Bankruptcy filings hit a record 395,129 for the final three months of
2002. For all of 2002, total bankruptcies filed were 1,577,651, up 5.7%
from 2001. Previously, the largest number of bankruptcies filed in a single
12-month period was in the period between October 1, 2001-September 30,
2002 when it hit 1,547,669 filings. According to the Administrative Office
of the U.S. Courts, of the total number of bankruptcy filings for the
12-month period ending December 31, 2002, there were 1,109,923 Chapter 7
filings, up 5.2% from the 1,054,975 Chapter 7 filings in the same period in
2001. The next largest group of filings was Chapter 13 filings at 455,877,
up 7.2% from the 425,292 filings in calendar year 2001.