BaliBabyDoc
Lifer
- Jan 20, 2001
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bankruptcy filings
3 Filings Continue Record Pace!
In 2002, bankruptcy filings broke new records...again! According to the Administrative Office of the U.S. Courts, more bankruptcy petitions were filed in the 12 month period ending September 30, 2002 than at any time in history. Bankruptcy filings totaled 1,547,669, up 7.7% from the previous record of 1.437 million filed in 2001. Petitions rose across the board with the exception of chapter 12. In fiscal year 2002, filings under chapter 7 (complete dismissal) rose 6.9%; chapter 11 (small business debtor) 10.9%; and chapter 13 (wage earners plan), 9.5%. The only chapter that saw a decrease was chapter 12 (farming entities) with 322 filings, down 15%.
