Bankruptcy Filings Down in 12-Month Period Ending in March
WASHINGTON-In the 12 months leading up to March 31, 2005, bankruptcy filings were down 3.9% compared to the same period ending in 2004. According to the Administrative Office of the U.S. Courts, the period ending March 31, 2005 saw 1,590,975 cases, while the earlier 12-month period saw 1,654,847 bankruptcy filings. In fact, it is below the 2003 level of 1,611,268. Both personal and business filings saw declines. Non-business filings were down 3.6% during the same time frame and business filings fell 13.1%. However, the number of bankruptcies filed during the second quarter of the Judiciary's fiscal year 2005 (January 1, 2005-March 31, 2005) was 401,149, up 7.9% from the first quarter (October 1- December 31, 2004).