California Bankruptcy Court Reports Filings up in May
Overall, the number of bankruptcy cases was up 34.8 percent in May.
According to a recent report, bankruptcy filings continued to rise in an area of California.
According to the state's Central Bankruptcy Court, the total number of filings seen in that part of California was up 34.8 percent in May 2010 when compared to the same month in 2009. Both Chapter 7 and Chapter 13 bankruptcy filings were up when compared to last year.
Chapter 7 bankruptcy filings were up 36.2 percent, while Chapter 13 cases rose 44.6 percent when held up against statistics from 2009.
Across the country, bankruptcy filings have seen an increase during the first six months of this year, rising 14 percent when compared to 2009. This is despite the fact that new laws were put into place in 2005 to make it more difficult to file.
The American Bankruptcy Institute said it expects filings to reach a total of 1.6 million for this year. In 2009, the total number of bankruptcies amounted to more than 1.4 million
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