April Consumer Bankruptcy Filings Fall 7 Percent
April consumer bankruptcies decreased 7 percent nationwide from April 2010, according to the American Bankruptcy Institute.
ALEXANDRIA, Va. — April consumer bankruptcies decreased 7 percent nationwide from April 2010, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center. The data showed that the overall consumer filing total for April reached 134,720, down from the 144,490 consumer filings recorded in April 2010.
"As consumer debt levels fall and families continue to shore up their finances, bankruptcy filings will continue to drop as well," said ABI Executive Director Samuel J. Gerdano. "Consumer bankruptcies for 2011 will likely dip below the 1.5 million filings recorded last year."
The April 2011 filings also represented a 7 percent decrease from the March 2011 consumer bankruptcy total of 144,657 filings. The percentage of chapter 13 filings for April remained virtually unchanged from March at 26 percent.
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