According to the American Bankruptcy Institute, the number of people in the United States that filed for bankruptcy last month was 16 percent lower than the number of people who filed for bankruptcy in May 2010.
Last month, a total of 114,803 people filed for chapter 7 and chapter 13 bankruptcy. Last year, 136,142 filed for personal bankruptcy in the month of May.
Bankruptcies in the first quarter of the year were 6 percent lower than the number of bankruptcies filed in the first quarter of 2010. From January to March, a total of 340,012 personal bankruptcies were filed in the United States. In the first quarter of 2010, 363,215 people filed for personal bankruptcy.
To discuss the steps to take to file for personal bankruptcy, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 today.