Nearly 400,000 More Consumers Filed Bankruptcy in 2009 than 2008

J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization

U.S. consumer bankruptcies increased 32 percent nationwide in 2009 from the previous year, according to the American Bankruptcy Institute (ABI) relying on data from the National Bankruptcy Research Center (NBKRC). The data showed that the overall consumer filing total for the 2009 calendar year (Jan. 1 – Dec. 31, 2009) reached 1,407,788 compared to the 1,064,927 total consumer filings recorded during 2008.

Annual consumer filings have increased each year since BAPCPA was enacted in 2005. NBKRC’s data also showed that the 113,274 consumer filings recorded in December 2009 represented a 33 percent increase from the 84,926 filings in December 2008. Chapter 13 filings constituted 28 percent of all consumer cases in December, a slight decrease from November.