July showed a large spike in consumer bankruptcy filings all across the nation. The 126,434 filings came out to a 34.3% increase from July 2008 and an 8.7% increase from June 2009.
The American Bankruptcy Institute reported the spike recently, saying that the month showed the most consumer bankruptcies since the passing of BAPCPA in October 2005. That month saw a huge spike in bankruptcies as consumers tried to get in before the law changed.
If you are considering bankruptcy, contact the Birmingham consumer bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.