Re:"That´s just a shocking number!" owT

verfasst von JüKü, 25.08.2001, 13:01

>08/24 17:20
> Bankruptcy Filings Rise, Putting U.S. on Record Pace (Update1)
> By Bob Gravely
> Washington, Aug. 24 (Bloomberg) -- The number of Americans declaring bankruptcy rose almost 25
> percent between April and June compared with the same period a year ago, putting 2001 on track
> to break a record of 1.4 million bankruptcy filings set in 1998.
> ``That's just a shocking number,'' said Sam Gerdano, executive director of the American Bankruptcy
> Institute, a non- partisan research institution. ``There's never been a first six months like we've had
> this year.''
> More than 400,000 Americans declared bankruptcy between April and June, a 24.5 percent
> increase from the same quarter last year, according the Administrative Office of the U.S. Courts.
> Filings increased during the first three months of this year by 18 percent over the first quarter of last
> year.
> Gerdano's group calculates that the 767,235 new cases during the first six months of this year
> surpasses the number of cases during the first half of 1998 by 5.4 percent.
> Gerdano attributed the rise to a sluggish U.S. economy and a desire by some consumers to declare
> bankruptcy before Congress clears legislation making it harder to discharge credit card debt.
> Small Rise in Business Cases
> Bankruptcy filings increased 8.6 percent to 1,386,606 during the 12-month period that ended in
> June, according to the U.S Court's data, which was released today. Personal filings increased 8.8
> percent to 1,349,471 during that period. Business filings increased 0.6 percent to 37,135.
> Bankruptcy cases increased steadily from 284,517 in 1984 to 1.4 million in 1998. Filings decreased
> slightly in 1999 and 2000.
> Analysts say that recent job cuts by U.S. companies such as Ford Motor Co., have made more
> Americans unable to pay credit card and other debts. There were 3.18 million Americans collecting
> unemployment benefits during the week that ended Aug. 11, the highest number since 1992.
> According to the Federal Reserve data, Americans devoted 14.4 percent of disposable personal
> income to paying off debt in the first quarter of this year, the highest level in 14 years.
> ``People have been laid off and had their incomes reduced, and some have been pushed over the
> edge,'' said George Yacik, vice president of SMR Research Corp., a New Jersey-based consumer
> finance research firm.
> Yacik and Gerdano said the bankruptcy legislation pending in Congress is causing some of increase.
> The House and Senate have passed bills that differ only at the margins, with a final version
> expected later this year.
> Tightening Chapter 7
> The legislation is a top priority for MBNA Corp. and other credit card issuers and retailers. It would
> prevent most debtors with incomes above the state median from filing for bankruptcy under Chapter
> 7 of the code, which allows bankruptcy filers to escape unsecured debt after liquidating some assets.
> Instead, more debtors would be forced into Chapter 13 bankruptcy, in which debtors are forced to
> repay debts in part or in full over three to five years.
> Consumer groups and other opponents of the bankruptcy bill say that making it harder for Americans
> to absolve debts through bankruptcy will prevent many from getting back on their feet after job loss,
> illness or other setbacks. The bill's supporters say too many well-to-do debtors abuse the system by
> filing under Chapter 7.
> During the 12-month period ending in June, there were 972,659 Chapter 7 filings and 403,418
> Chapter 13 filings.


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gesamter Thread:

• Moin, moin!"Bankruptcy Filings Rise, Putting U.S. on Record Pace" - marsch, 25.08.2001, 11:25
  • Re:"That´s just a shocking number!" owT - JüKü, 25.08.2001, 13:01
    • Na gut, Du hast zitiert.:-) oT. - BossCube, 25.08.2001, 16:43
      • Fonds im Goldrausch, Link zu WamS-Artikel (owT) - Harry-2, 25.08.2001, 20:28