They Went Broke (Increasing Numbers Every Month)

30 Nov They Went Broke (Increasing Numbers Every Month)

Early in November 2009, the American Bankruptcy Institute (ABI) announced that bankruptcy filings had increased 27.9% in October 2009 from October 2008.    The ABI relied on statistics from the National Bankruptcy Research Center (NBKRC).   In October 2009, consumers filed 135,913 bankruptcies.  In October 2008, the number of consumer bankruptcy filings was 106,266.   The October 2009 filings also represent a 8.9% increase from the September 2009 filings.  

The ABI executive director, Samuel Gerdano, explained that the increased filings are representative of the continued stressed economy.    At least one Wisconsin judge has remarked that he expects the rise to continue as explained by New York consumer attorney, Jay Fleischman.

Part of a chart compiled by the  Federal Judiciary/U.S. Courts, (full chart found here), separated by Judicial Districts/individual states–which compares 2008 with 2009 bankruptcy filings is below (NOTE:  the initials next to state’s names represent the different judicial divisions within that state, i.e, NY S (Southern District of New York).   Interestingly enough, two top vacation paradises, the Virgin Islands and Arizona appear to have the highest increases, 106% and 83%, respectively. 

Circuit and District Filings
2008 2009 Percent Change
    TOTAL 1,042,806 1,402,816 34.5
DC        863 1,095 26.9
     1ST  34,672 44,560 28.5
ME        2,800 3,761 34.3
MA        15,632 19,805 26.7
NH        3,676 4,976 35.4
RI        3,919 5,096 30.0
PR        8,645 10,922 26.3
     2ND  53,885 66,639 23.7
CT        7,704 9,710 26.0
NY, N     10,877 12,185 12.0
NY, E     15,498 20,508 32.3
NY, S     9,538 13,252 38.9
NY, W     9,113 9,457 3.8
VT        1,155 1,527 32.2
    3RD   59,841 75,458 26.1
DE        2,827 4,592 62.4
NJ        24,764 34,070 37.6
PA, E     11,022 13,019 18.1
PA, M     8,480 10,158 19.8
PA, W     12,733 13,588 6.7
VI        15 31 106.7
     4TH  77,987 102,555 31.5
MD        16,926 24,179 42.9
NC, E     8,955 11,326 26.5
NC, M     6,264 7,432 18.6
NC, W     6,388 8,159 27.7
SC        7,987 9,739 21.9
VA, E     19,538 26,056 33.4
VA, W     6,852 9,312 35.9
WV, N     1,994 2,863 43.6
WV, S     3,083 3,489 13.2
     5TH  70,980 85,611 20.6
LA, E     3,209 4,337 35.2
LA, M     1,863 2,008 7.8
LA, W     10,341 11,923 15.3
MS, N     5,467 6,959 27.3
MS, S     6,349 7,495 18.1
TX, N     15,340 19,472 26.9
TX, E     6,281 7,165 14.1
TX, S     12,053 13,060 8.4
TX, W     10,077 13,192 30.9
    6TH   173,568 215,624 24.2
KY, E     9,684 12,249 26.5
KY, W     10,753 12,474 16.0
MI, E     41,227 51,286 24.4
MI, W     12,113 15,719 29.8
OH, N     29,047 37,595 29.4
OH, S     25,577 32,020 25.2
TN, E     14,922 19,149 28.3
TN, M     11,551 14,833 28.4
TN, W     18,694 20,299 8.6
     7TH  110,412 143,121 29.6
IL, N     38,119 52,663 38.2
IL, C     8,777 10,496 19.6
IL, S     5,701 6,536 14.6
IN, N     14,041 18,437 31.3
IN, S     23,494 28,451 21.1
WI, E     13,706 18,025 31.5
WI, W     6,574 8,513 29.5
     8TH  70,251 87,357 24.3
AR, E     8,085 9,669 19.6
AR, W     5,156 6,554 27.1
IA, N     2,807 3,697 31.7
IA, S     5,014 6,195 23.6
MN        15,554 20,490 31.7
MO, E     12,012 15,299 27.4
MO, W     12,404 14,726 18.7
NE        6,430 7,347 14.3
ND        1,330 1,590 19.5
SD        1,459 1,790 22.7
     9TH  191,604 310,028 61.8
AK        851 933 9.6
AZ        16,908 31,017 83.4
CA, N     18,966 30,052 58.5
CA, E     28,616 44,023 53.8
CA, C     57,153 97,481 70.6
CA, S     12,256 19,282 57.3
HI        1,810 2,941 62.5
ID        4,741 7,203 51.9
MT        1,894 2,593 36.9
NV        16,756 27,560 64.5
OR        11,615 17,200 48.1
WA, E     5,170 7,070 36.8
WA, W     14,726 22,450 52.5
GUAM      128 212 65.6
NMI       14 11 -21.4
     10TH 52,245 71,475 36.8
CO        19,692 26,608 35.1
KS        8,637 10,588 22.6
NM        4,268 5,765 35.1
OK, N     3,037 4,020 32.4
OK, E     1,694 2,213 30.6
OK, W     5,740 7,372 28.4
UT        8,403 13,660 62.6
WY        774 1,249 61.4
     11TH 146,498 199,293 36.0
AL, N     16,114 20,014 24.2
AL, M     6,415 8,444 31.6
AL, S     5,049 6,256 23.9
FL, N     3,806 5,308 39.5
FL, M     38,714 57,956 49.7
FL, S     18,563 27,683 49.1
GA, N     37,825 49,488 30.8
GA, M     10,702 12,681 18.5
GA, S     9,310 11,463 23.1
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I'm a consumer protection lawyer in Oregon, working with people in Klamath; Lake; Jackson; Josephine; Curry; and Deschutes County. I speak regularly on bankruptcy and consumer protection issues nationwide.
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