Bankruptcy Filings Down In First Half of 2011
Personal bankruptcy filings declined 8% during the first half of 2011, compared with the same period last year, the American Bankruptcy Institute reported Tuesday.
There were 709,303 bankruptcy filings from Jan. 1 through June 30, compared with 770,117 during the same period last year, according to the institute, which is the trade association for bankruptcy professionals.
June’s 119,768 filings represent a 4% increase from May’s 114,803 filings and a 5% decline from the 126,270 filings in June 2010.
“The drop in bankruptcies for the first half of the year shows the continued efforts of consumers to reduce their household debt, and the overall pull back in consumer credit,’’ ABI Executive Director Samuel J. Gerdano said in a statement.