Record Bankruptcy Filings in 2005
Bankruptcy filings in the federal courts skyrocketed a record 30 percent in calendar year 2005, according to data released by the Administrative Office of the U.S. Courts. The increase in calendar year 2005 occurred largely in response to the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 [PDF], as many debtors filed petitions before the law's general effective date of October 17, 2005.
- Read the full Press Release and Data.
- Understanding the New Bankruptcy Law
- FindLaw for the Public's Bankruptcy & Debt Center.