Personal Bankruptcy Filings Set New Record
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Clerks at the nation’s Bankruptcy Courts processed a record 205,129 personal bankruptcy filings last week, and a private consulting firm estimates that a backlog of unprocessed filings could push the total to 300,000.
Hundreds of thousands of people have clogged the courts in recent weeks trying to beat Monday’s deadline, the day a more stringent law took effect.
Lundquist Consulting, a Burlingame, Calif., company that compiles bankruptcy statistics, said filings doubled from the previous week’s record of 102,863 filings. Lundquist expects about 300,000 filings this week because of the weekend filings and the backlog at the courts.
From Associated Press
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