Newest Statistics

Posted by Kevin on May 7, 2011 under Bankruptcy Blog | Be the First to Comment

In NJ, year ending December, 2009 indicates 36420 bankruptcies.  Year ending December, 2010 indicates 41366 bankruptcies.  This was up 14%.  In addition, Chapter 7 filed 3.3 times more than Chapter 13.  Remember, we told you that the purpose of the new law, BAPCPA, was to make more people file under Chapter 13.  It failed.

Note the the American Bankruptcy Institute indicated that bankruptcies in the US were down 6% from the first quarter of 2010 to the first quarter of 2011.  That trend is not happening in NJ which bankruptcies are even or slightly higher.