FREDERICK, Md. – Bankruptcy filings are beginning to rise again after having been depressed in the wake of the reforming Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, according to Cardweb.com, a Web site which tracks credit and debit card trends.

During June, filings topped 46,000, the highest level since October when the reforms went into effect, according to the site. Cardweb stressed, however, that the numbers of filings still remained far below the 35,000 per week that the site says were frequent before the reform legislation was passed into law.

According to California-based Lundquist Consulting 7, consumer filings were 80% lower in the first quarter of 2006 compared to the first quarter of 2005. According to the Administrative Office of the U.S. Courts, consumer and business bankruptcy filings hit a record 667,431 petitions in the fourth quarter of 2005, but dropped to a record low of 116,771 petitions in the first quarter of this year, the site reported.

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