U.S. bankruptcy filings up 30%

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U.S. bankruptcy filings up 30%
« Thread Started on Dec 16, 2008, 1:36am »

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U.S. bankruptcy filings up 30%
Posted: 06:33 PM ET
By Ben Rooney
CNNMoney.com
NEW YORK (CNNMoney.com) — Bankruptcy filings in the United States rose 30 percent during the government’s 2008 fiscal year, which ended September 30, according to figures released Monday by the Administrative Office of the U.S. Courts.

Total bankruptcy filings increased by 241,724 cases, or 30 percent, to 1.04 million in the 12 months between October 1, 2007, and September 30, 2008.

For the three months ended September 30, total bankruptcies rose nearly 34 percent to 292,291, up from 218,909 in the same period last year. Fiscal fourth-quarter filings were up 60 percent from 182,973 in the previous quarter.

Non-business filings totaled just over 1 million for the year, up 30 percent from the 775,344 non-business filings in fiscal 2007. Business filings rose 49 percent to 38,651, up from 25,925 business filings in the previous 12-month period.