Blog sponsored by Bankrupt-Law.com



According to figures release by the Administrative Office of the Courts on
May 26, 2006, Chapter 7 bankruptcy filings are starting to rise.
Historically, the average number of Chapter 7 filings has been about 100,000
a month. In October of 2005, the month the new bankruptcy laws went into
effect, the number of filings soared to 555,531 as debtors rushed to beat
the deadline. The next month Chapter 7 filings plunged to 5,762.
As the effects of the huge increase in filings last October dissipate and
the misinformation leading consumers to believe that Chapter 7 is out of
reach is corrected, the number of Chapter 7 filings should rise towards
historical levels.