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Consumer bankruptcy filings decrease in November

Posted on Wednesday, December 7th, 2011 at 10:23 pm    

Last month, consumer bankruptcy filings decreased once again to a total of 100,980.  Personal bankruptcies dropped by 12  percent from a year ago in November 2010 and 5 percent from a month before in October.

A year ago, a total of 114,587 personal bankruptcies were filed in the U.S.  Consumer bankruptcy filings also experienced yearly and monthly decreases in October when 106,255 consumer bankruptcies were filed.

Chapter 13 bankruptcy accounted for 31 percent of consumer bankruptcies last month.  By filing for Chapter 13 bankruptcy, individuals are able to create a payment plan to pay off debts to creditors.

Data concerning last month’s bankruptcy filings was gathered by the National Bankruptcy Research Center and reported by the American Bankruptcy Institute.

To speak with an attorney about the Chapter 13 bankruptcy process, contact the Joliet Chapter 13 repayment plan lawyers of The Law Offices of Stuart B. Handelman by calling 815-722-2201 today.