Printer Friendly

PERSONAL BANKRUPTCY FILINGS HIT 872,438 DURING 1991, A 21.5 PCT. JUMP OVER 1990 FIGURES, REPORTS AMERICAN FINANCIAL SERVICES ASSOCIATION

PERSONAL BANKRUPTCY FILINGS HIT 872,438 DURING 1991, A 21.5 PCT. JUMP OVER 1990 FIGURES, REPORTS AMERICAN FINANCIAL SERVICES ASSOCIATION
 WASHINGTON, Feb. 28 /PRNewswire/ -- The number of individuals filing for personal bankruptcy jumped 21.5 percent during 1991, bringing the total number of nonbusiness filings to 872,438 for the year, the American Financial Services Association (AFSA) reported today in its analysis of statistics released on Feb. 28, 1992 by the Administrative Office of U.S. Courts.
 According to AFSA, the 21.5 percent surpasses the 11,12, and 16 percent increases in personal bankruptcy filings for the years 1988, 1989 and 1990, respectively. The figures show that the first, second and third judicial circuits, representing the New England and North Eastern states, again showed the greatest increases. Filings for the year 1991 in the first circuit ((Maine, Massachusetts, New Hampshire, Rhode Island and Puerto Rico) surged 41 percent over 1990 figures; the second circuit (Connecticut, New York and Vermont) jumped 37 percent; and the third circuit (Delaware, New Jersey, Pennsylvania, Virgin Islands) rose 36 percent.
 Total business and nonbusiness bankruptcy filings numbered 943,987 during 1991, also representing a 21 percent increase over 1990 year-end filings.
 Founded in 1916, the American Financial Services Association is the national trade association for the non-banking providers of consumer credit. DC00X MH-MK 1230 PERSONAL BANKRUPTCY FILINGS AGAIN SHOW RECORD GAINS xxxxx + DOC (WA 043001 AMERICAN FINANCIAL SERVICES ASSOCIATION) 07 26 30 32 d...k/dcfin r f bc-bankruptcy-filings-up P2 % TO BUSINESS EDITOR: PERSONAL BANKRUPTCY FILINGS ONCE AGAIN SHOW RECORD GAINS, WITH THIRD-
 QUARTER FIGURES REACHING OVER 655,000 FILINGS THUS FAR IN 1991 continue to escalate to all-time highs, with third-quarter 1991 figures just released by the Administrative Office of the U.S. Courts showing 655,305 bankruptcy filings for the first nine months in 1991, reports the American Financial Services Association (AFSA).
 On a 12-month basis -- from Oct. 1, 1990, to Sept. 30, 1991 -- the figures show a 24-percent gain in filings (from 685,429 to 848,812) over the year-ago figures.
 The latest figures show the eastern portion of the country taking the biggest pounding in non-business filings. The first circuit (Maine, Massachusetts, New Hampshire, Rhode Island and Puerto Rico) and the second circuit (Connecticut, New York and Vermont) once again show the largest increases in filings, jumping 50 percent and 43 percent, respectively. Other circuits experiencing big gains include the third circuit (Delaware, New Jersey, Pennsylvania, Virgin Islands) increasing 42 percent, D.C. with a rise of 38 percent, followed by the fourth circuit (Maryland, North Carolina, South Carolina, Virginia and West Virginia) gaining 37 percent.
 In the ninth circuit (Arkansas, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon, Washington, Guam and NMI), the largest circuit, personal bankruptcy filings increased by 20 percent during the 12-month period; California experienced a 24-percent rise during the same period.
 A circuit breakdown for the 12-month period ending Sept. 30, 1991, follows.
 Founded in 1916, the American Financial Services Association is the national trade association for the non-banking providers of consumer credit.
 NON-BUSINESS BANKRUPTCIES BY U.S. JUDICIAL CIRCUITS
 (For the 12 month period ending Dec. 31)
 1990-1991
 PERCENT
 CIRCUITS 1989 1990 1991 INCREASE/DECREASE
 DC 996 958 1,187 +24
 1st (ME,MA,
 NH,RI,PR) 12,514 20,258 28,610 +41
 2nd (CT,NY,VT) 25,972 36,327 49,930 +37
 3rd (DE,NJ,PA,VI) 23,087 31,365 42,682 +36
 4th (MD,NC,SC,
 VA,WV) 39,003 47,378 64,303 +36
 5th (LA,MS,TX) 56,542 60,485 68,214 +13
 6th (KY,MI,OH,TN) 89,815 105,560 122,696 +16
 7th (IL,IN,WI) 60,195 68,207 78,620 +15
 8th (AR,IA,MN,
 MO,NE,ND,SD) 37,565 43,822 52,986 +21
 9th (AK,AZ,CA,HI,
 ID,MT,OR,NV,WA,
 GUAM,NMI) 145,361 155,908 188,503 +21
 10th (CO,KS,NM,
 OK,UT,WY) 45,432 49,590 52,925 + 7
 11th (AL,FL,GA) 80,271 98,249 121,782 +24
 Total 616,753 718,107 872,438 +21.5
 -0- 2/28/92
 /CONTACT: Judy Kent of the American Financial Services Association, 202-296-5544/ CO: American Financial Services Association ST: District of Columbia IN: FIN SU:


MK-SB -- DC014 -- 3752 02/28/92 13:29 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 28, 1992
Words:723
Previous Article:COMMUNITY FIRST BANKSHARES COMPLETES PURCHASE OF BRECKENRIDGE BANK
Next Article:INFINITI ANNOUNCES PRICE INCREASE EFFECTIVE MARCH 1
Topics:


Related Articles
COUNTRYWIDE'S OCTOBER MORTGAGE ORIGINATIONS TOP $1 BILLION
AFSA HAILS SENS. HEFLIN AND GRASSLEY'S EFFORT TO REVIEW CURRENT BANKRUPTCY CODE
COUNTRYWIDE'S DECEMBER MORTGAGE ORIGINATIONS UP 209 PERCENT, REACH RECORD $1.4 BILLION
MID AM, INC. SETS QUARTERLY EARNINGS RECORD
MICHIGAN NATIONAL'S EARNINGS FOR THE YEAR 1991 WERE MODESTLY HIGHER THAN 1990
FIRST LIBERTY REPORTS OPERATING PROFITS FOR THE FIRST QUARTER OF FISCAL 1992
AMERICAN PACIFIC STATE BANK POSTS RECORD 1991 PROFITS
BANKATLANTIC REPORTS YEAR-END RESULTS AT ANALYST/PRESS MEETING
PERSONAL BANKRUPTCIES RISE 10 PERCENT IN FIRST QUARTER 1991, REPORTS AFSA
PERSONAL BANKRUPTCIES RISE 10.9 PERCENT

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters