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First Quarter Consumer Bankruptcy Filings Fall 6 Percent from 2010

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From the American Bankruptcy Institute: First quarter consumer bankruptcy filings fall 6 Percent from 2010 Consumer bankruptcies for the first quarter of 2011 (Jan. 1 – March 31) decreased 6 percent nationwide from the same time period in 2010, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC).

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Bankruptcies in the first quarter of the year were 6 percent lower than the number of bankruptcies filed in the first quarter of 2010. From January to March, a total of 340,012 personal bankruptcies were filed in the United States. In the first quarter of 2010, 363,215 people filed for personal bankruptcy.

Although delinquencies on consumer debt have been increasing in recent years, delinquencies on mortgages have continued to fall. In the first quarter, 1.4 percent of District mortgages (first mortgages and non-revolving junior liens) were 90 or more days past due or in foreclosure (seriously delinquent), down 0.1 percentage point from the first.

In the same release, the Institute noted that the May filings were down 6% from April 2010. That’s the getting-better part. For the first quarter of 2010, US consumer bankruptcies totaled 388,148,

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However, total bankruptcy filings fell 6 percent during the first nine months of 2016 (Jan. 1-September 30) from the same period a year ago as the 593,034 filings decreased from 629,754 in 2015.

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NEW YORK (CNNMoney) — The number of Americans filing for bankruptcy dropped 6% in the first. The number of filings in the first three months of 2011 dropped to 340,012, down from 363,215 filings.