August Bankruptcy Filings

Total bankruptcy filings for August were 93,987 or 4,476 per day.  This compares to 96,385 for July or 4,381 per day.  At this rate, the third quarter will be about 285,000 compared to 272,000 in the second quarter and 240,000 in the first quarter.   If the 4th quarter is roughly 300,000, the total for 2008 will be about 1.1 million.  2004 was 1.6 million; 2003 was 1.7 million; 2002 was 1.6 million.  These were years when home values were rising dramatically and many individuals could not file anything because there was too much equity in their home.  We are back to the times when debtors call me and tell me they are ready to walk from the home because there is no equity.  The point of this is that bankruptcy filings are still drastically down in my opinion. 

Filings By Quarter per U.S. Courts website. 

PERIOD	FILINGS	PERIOD	FILINGS	PERIOD	FILINGS
DEC. 31, 2007	226,413	DEC. 31, 2003	393,348	DEC. 31, 1999	318,634
SEPT. 30, 2007	218,909	SEPT. 30, 2003	412,989	SEPT. 30, 1999	323,550
JUN. 30, 2007	210,449	JUN. 30, 2003	440,257	JUN. 30, 1999	345,956
MAR. 31, 2007	193,641	MAR. 31, 2003	412,968	MAR. 31, 1999	330,784
DEC. 31, 2006	177,599	DEC. 31, 2002	395,129	DEC. 31, 1998	353,108
SEPT. 30, 2006	171,146	SEPT. 30, 2002	401,306	SEPT. 30, 1998	361,205
JUN. 30, 2006	155,833	JUN. 30, 2002	400,686	JUN. 30, 1998	373,460
MAR. 31, 2006	116,771	MAR. 31, 2002	379,012	MAR. 31, 1998	354,118
DEC. 31, 2005	667,431	DEC. 31, 2001	364,921	DEC. 31, 1997	347,685
SEPT. 30, 2005	542,002	SEPT. 30, 2001	359,518	SEPT. 30, 1997	353,515
JUN. 30, 2005	467,333	JUN. 30, 2001	400,394	JUN. 30, 1997	367,168
MAR.31, 2005	401,149	MAR. 31, 2001	366,841	MAR. 31, 1997	335,073
DEC. 31, 2004	371,668	DEC. 31, 2000	310,169	DEC. 31, 1996	311,131
SEPT. 30, 2004	396,438	SEPT. 30, 2000	308,718	SEPT. 30, 1996	303,309
JUN. 30, 2004	421,110	JUN. 30, 2000	321,729	JUN. 30, 1996	297,162
MAR. 31, 2004	407,572	MAR. 31, 2000	312,335	MAR. 31, 1996	266,149
				DEC. 31, 1995	244,494