 |
|
|
|
Bankruptcy Filings Fall 2.6% in 2004POSTED December 10, 2004 The number of bankruptcy cases filed in federal courts fell 2.6 percent in fiscal year 2004 according to the Administrative Office of the U.S. Courts. During the 12-month period ending September 30, 2004, 1,618,987 bankruptcies were filed, down from the 1,661,996 bankruptcy cases filed in fiscal year 2003. The federal Judiciary's fiscal year is the 12-month period ending September 30. The bankruptcies reported are for the period from October 1, 2003 - September 30, 2004. Despite the drop in filings, bankruptcies remain at historic highs, well above the 1.5 million record first set in 2002. Bankruptcy filings first broke one million during the 12-month period ending June 30, 1996. Despite the high caseload, no new bankruptcy judgeships have been created since 1992, when bankruptcy filings for the fiscal year totalled 977,478. Business and Non-Business Filings Business bankruptcies fell 3.8 percent to 34,817 in FY 2004, down from 36,183 in FY 2003. Non-business or personal bankruptcies fell 2.6 percent in the same 12-month period, totaling 1,584,170 in FY 2004 and 1,625,813 in FY 2003.
|
|