For example, total consumer debt stood at $11.7 trillion on June 30, down just 6.5 percent from its peak in the third quarter of 2008. The number of open credit card accounts was down considerably – 23.2 percent – from the highs reached during the second quarter of 2008, while mortgage obligations have fallen 6.4 percent from the peak that.
The American Bankruptcy Institute’s (ABI) Commission on Consumer Bankruptcy is reviewing filing trends to make recommendations for improvement to the consumer bankruptcy system. The total bankruptcy filings in the first calendar quarter, Jan. 1 – March 31 this year, declined slightly by 0.23 percent to 195,199, compared to 195,647 during the same time in 2016.
For all of last year, consumer debt rose 6.9 percent. Non-revolving loans, which include funding for college tuition and auto purchases, increased $15.4 billion in December, twice as much as the.
Total U.S. consumer debt reached an all-time high in the third quarter at $4.372 trillion, up 3.8 percent from a year earlier (chart 9). 13 Excluding student loans, total consumer debt was $2.930 trillion, up 2.6 percent from a year earlier and also a historical high.
For the first quarter of 2010, new filings increased 10.7 percent over the same three-month period in 2009, court statistics show. Filings in the court’s Wilkes-Barre office, however, were up only.
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They fell to 3,148 in the first quarter, down 4 percent from 3,288 last year and down 19 percent form 3,872 in 2010. Through March, there were seven Chapter 12 filings, up from two last year and down from eight in 2010.
Of course, the problem is that the vast majority of the filings are Chapter 7. More than 1.5 million consumer bankruptcy filings were processed over a 12-month period ending September 30, a 14 percent.
The ensuing economic rebound made a huge dent in bankruptcy filings. Southern California’s 2018 first-quarter bankruptcies are off by 75 percent since 2011, the second-largest decline in the.
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Part I of this article looks at consumer bankruptcy filing rates and attempts to identify some trends and economic indicators that might predict those filing rates. The $64,000 question (which, adjusted for inflation, today would be the "$484,537 question") is, what causes consumer bankruptcy.
There were nearly 1.6 million consumer bankruptcy filings in the United States in 2004 – more than twice the number just ten years earlier, and more than one filing for every 70 households in the.
After several consecutive years of steady decline, consumer bankruptcy filings increased 6 percent in 2016. According to a report, Illinois had the second-highest number of new bankruptcy filings in the country for December 2016.