Consumer bankruptcy filings during January fell to their lowest level in four years, reflecting a 13% decline in year-ago levels. Over the past year, bankruptcy is tracking nearly 4% below 2003 levels, ironically at a time when bankruptcy reforms may finally pass Congress. During January, 99,705 consumer Chapter 7 and 11 filings were made, compared to 114,737 for January 2004. During the fourth quarter, there were 364,313 consumer bankruptcy filings, compared to 393,348 for 4Q/03. Year-to-date bankruptcy filings were 1,552,967. The decline for full-year 2004 is the first drop in consumer bankruptcy filings since full-year 2000.
Monthly Filings Historical
Jan 04: 114,737
Feb 04: 124,719
Mar 04: 152,567
Apr 04: 145,543
May 04: 136,509
Jun 04: 127,742
Jul 04: 133,390
Aug 04: 125,783
Sep 04: 127,664
Oct 04: 133,404
Nov 04: 116,952
Dec 04: 113,957
Jan 05: 99,705
Source: CardData (www.carddata.com)
Consumer bankruptcy filings during January fell to their lowest level in four years, reflecting a 13% decline in year-ago levels. Over the past year, bankruptcy is tracking nearly 4% below 2003 levels, ironically at a time when bankruptcy reforms may finally pass Congress. During January, 99,705 consumer Chapter 7 and 11 filings were made, compared to 114,737 for January 2004. During the fourth quarter, there were 364,313 consumer bankruptcy filings, compared to 393,348 for 4Q/03. Year-to-date bankruptcy filings were 1,552,967. The decline for full-year 2004 is the first drop in consumer bankruptcy filings since full-year 2000.
