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Bankruptcy filings fall to newest lows

I am one of the many people who believed the new bankruptcy law to be flawed and honestly thought that it was only a matter of time before things took a turn for the worse. Turns out, I was wrong — at least, that’s what is apparent from these latest statistics. According to reports, U.S. bankruptcy filings have fallen to the lowest level in five years. Chron.com reports:

About 1.5 million personal and business bankruptcies were filed in the year that ended June 30, a 9.3 percent drop from the previous year, according to data released Monday by the Administrative Office of the U.S. Courts.

Read more: Bankruptcy filings fall after tough new law


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This entry was posted on Tuesday, August 29th, 2006 at 2:35 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

One Response to “Bankruptcy filings fall to newest lows”

  1. Razib Ahmed Says:
    August 29th, 2006 at 10:24 am

    “About 1.5 million personal and business bankruptcies were filed in the year that ended June 30, a 9.3 percent drop from the previous year.”
    So, the law seems to be a good one. However, I think that the government should reconsider it and make it better. There should be a balance in this kind of law to insure the interest of every party.

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