Bankruptcies Continue Double-Digit Year-Over-Year Climb
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ALEXANDRIA, Va. — U.S. consumer bankruptcy filings again climbed by double digits in April, jumping a total of 36 percent from a year ago, according to the American Bankruptcy Institute, which relies on data from the National Bankruptcy Research Center.
The overall April consumer filing total of 125,618 represented a 3.5-percent increase from the March total of 121,413. Chapter 13 filings constituted 26 percent of all consumer cases in April, slightly above the March rate.
"The filings reveal that American families are continuing to seek relief from the financial pressures of today's economy," said Samuel Gerdano, ABI executive director.
"The April total is in line with our estimate of more than 1.4 million consumer cases to be filed in 2009," he concluded.