The number of U.S. bankruptcy filings is reaching new heights.<\/p>\n
According to the Administrative Office of the U.S. Courts, the total number of bankruptcies filed during the first half of this year jumped 14 percent over the same period in 2009. There were 810,209 filings from Jan. 1 through June 30 this year and 711,550 last year.<\/p>\n
There have never been this many filings in the first half of a calendar year since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was created to form more stringent rules for filing.<\/p>\n
\u201cBankruptcy continues to be the last resort for many Americans seeking financial relief from household debt, unemployment and the economic downturn,\u201d said ABI Executive Director Samuel J. Gerdano in a statement. \u201cThe first half 2010 filings show that bankruptcies are on pace to surpass 1.6 million by year end.\u201d<\/p>\n
According to the Administrative Office of the U.S. Courts, filings by individuals or households (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The number of U.S. bankruptcy filings is reaching new heights. According to the Administrative Office of the U.S. Courts, the total number of bankruptcies filed during the first half of this year jumped 14 percent over the same period in…<\/span><\/p>\n