Consumer Bankruptcy Filings Rose 40% in 2007

Las solicitudes de quiebra de consumidores se elevó un 40% en 2007

January 4, 2008 (LPAC)--Despite the stringent new bankruptcy rules in place since 2005, there were 801,840 filings in 2007, 40% more than in 2006, when there were 573,203 filings. This "presages even higher filings this year, as the heavy consumer debt load is made worse by the home mortgage crisis," said Samuel Gerdano, from the American Bankruptcy Institute, as reported in MoneyNews.com. The figure still doesn't approach the 2,039,214 filings in 2005, when the new bankruptcy rules went into effect.