US bankruptcies resume upward path in 1st quarter

05/15/2010

12 Comments

 
Reuters, by Jonathan Stempel   
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NEW YORK - U.S. bankruptcy filings resumed their upward climb in the first quarter, nearly equaling their highest level since 2005, as high unemployment and a still-strained housing market squeezed consumers. There were 388,148 filings between January and September, up 17 percent from 330,394 a year earlier, according to data released Friday by the Administrative Office of the U.S. Courts. Consumer filings rose 18 percent to 373,541, while business filings edged up 2 percent to 14,607. Filings also rose 4 percent from last year's fourth quarter, the government data show.
 


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