Bankruptcy Filing Statistics

BANKRUPTCY FILING ARE NEAR THE MILLION MARK

I just received a newsletter sent to members from the bankruptcy court that I wanted to share with you:

A total of 967,831 bankruptcy cases were filed in the 12-month period ending June 30, 2008, according to statistics released by the Administrative Office. The nearly one million filings represent a 28.9 percent increase compared to the previous 12 months, when 751,056 cases were filed. Total filings increased in 86 of the 90 bankruptcy courts.

Filings in the three months of April, May, and June totaled 276,510, up 12.5 percent from the 245,695 filings in the preceding three months. The 276,510 filings represented the highest quarterly filings since the last three months of 2005, which included part of the surge in filings just before the effective date of many of the provisions of the BAPCPA on October 17, 2005.

Chapter 7 filings totaled 615,748, up 36.7 percent in the 12-month period ending June 30, chapter 13 filings totaled 344,421, up 16.9 percent; and chapter 11 filings totaled 7,293, up 30.6 percent. Chapter 12 filings fell 18.7 percent, dropping to 314. Chapter 7 filings increased in 88 of the 90 bankruptcy courts, chapter 11 filings increased in 68 courts, and chapter 13 filings increased in 79 courts.

The 934,009 non-business filings represented an increase of 28.4 percent. Businesses were up 41.6 percent, for a total of 33,822. The Central District of California had the largest numerical increase in total filings, in chapter 7 filings, and in chapter 13 filings during the 12 months ended June 30. Total filings in the district were up 21,787 to a total of 47,140, chapter 7 filings were up 15,923 to a total of 35,536, and chapter 13 filings were up 5,657 to a total of 11,143. The Southern District of New York had the biggest numerical increase in chapter 11 filings, up 242 to a total of 457.

WHAT DOES THIS MEAN?

It means that the demand for virtual bankruptcy assistants is growing stronger and greater every day. I urge you to review some of the links below to help you build and grow your business to meet these demands:

Join the NAVBA and Save 10% on Everything You Purchase
http://www.navba.org/administrator/signup.php

Complete Kit to Start Your Career as a Foreclosure Mediator
http://www.713training.com/shop/cart.php?m=product_detail&p=93

1-on-1 Personalized Training with Victoria Ring
http://www.713training.com/shop/cart.php?m=product_detail&p=84

PACER Training Video
http://www.713training.com/shop/cart.php?m=product_detail&p=87

How to Market a Virtual Bankruptcy Assistant Service
http://www.713training.com/shop/cart.php?m=product_detail&p=88

Personalized Client Intake Forms
http://www.713training.com/shop/cart.php?m=product_detail&p=19

Free Set-Up for Help with Computer Problems
Email: cheri@713training.com or call 614-323-8131

Web Site Idea for your VBA Website
http://www.713paralegal.com

Call our office at 614-875-4496 if you need any help or information. 713Training.Com is here to help you with support, training and assistant in growing your virtual bankruptcy assistant service.

Victoria Ring, CEO
713Training.Com