Bankruptcy Filings Up 34 Percent In Third Quarter
Tuesday, December 23rd, 2008The total number of bankruptcies filed in the third quarter was up 34 percent to 292,291. The number represents the number of cases filed in U.S. Bankruptcy courts from July 1 to September 30, 2008.
Consumer filings accounted for 280,787 of those who filed in the third quarter. Businesses accounted for 11,504, up 61 percent from the 7,167 businesses that filed bankruptcy in the third quarter of 2007.
With economic conditions deteriorating in late September and October leading up to the presidential election, analysts expect that the fourth quarter numbers could dwarf the increases seen so far in 2008.