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For the first quarter of 2010, US consumer bankruptcies totaled 388,148, up from 330,477 in the same period of 2009. The first two months of the second quarter saw a total of 260,980 filings.
Average consumer debt for Tenth District residents, defined as all outstanding debt other than first mortgages and presented as a four-quarter moving average, rose from an inflation-adjusted $17,239 in the first quarter of 2017 to $17,346 in the third quarter, an increase of 0.6 percent (chart 1). 1 inflation-adjusted consumer debt for the United States rose from $18,067 to $18,171, also up.
For the first time since 2010, the bankruptcy filing rate edged up in two consecutive months, as a 5 percent January 2017 increase followed a similar increase in December 2016. However, the per capita filing rate actually decreased, from 2.48 per 1,000 people to 2.13.
Bankruptcy filings follow climbing unemployment. During the second quarter of 2009 consumer bankruptcy filings in the District of Minnesota continued to increase steadily at 35.7 percent compared to the same period in 2008, according to the U.S. Bankruptcy Court.
Banks were collapsing, lending was frozen, world trade was plunging, and stocks were in free fall. or 28 percent, as the prices of assets like stocks and homes tumbled. But after bottoming in the.
Regional bankruptcies continue to drop faster than national rates. New case filings in the 33-county Middle District of Pennsylvania for the first half of the year declined by 12.8 percent from.
William McComb, Chief Executive Officer of Liz Claiborne Inc., predicted on the fourth-quarter 2008 earnings call that the fashion company, whose store labels include Lucky Brand, Kate Spade, and.
State enterprises have seen their return on equity fall to 5.9 percent last year from 10.2 percent in 2010, according to the Ministry. the Bloomberg consumer comfort index and revised first-quarter.
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.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 amended the U.S. Bankruptcy Code. It made it difficult to file for liquidation under Chapter 7 bankruptcy. As a result, more people filed for Chapter 13 bankruptcy which rescheduled payments.