San Diego Chapter 13 Bakruptcies Steadily Rising in 2009
December 18, 2009
The news doesn’t come as a surprise. Chapter 13 bankruptcy filings in San Diego have steadily increased from the second half of 2006 and have broken quarterly records ever since.
Chapter 13 (visit the link to visit the US Court web site for a Chapter 13 bankruptcy basics page) bankruptcy claims have risen rapidly since the credit crunch that hit America in October 2008. However, although the recession has contributed to more filings, it certainly has not been the only cause, in fact Chapter 13 filings have increased since late 2006 (other than a significant decline in the first quarter of 2007).
San Diego Chapter 7 Bankruptcies up 200% in 2009
December 16, 2009
Comparing 2007 to 2009
Chapter 7 Bankruptcies in San Diego have increased three fold since 2007 and is currently set to break another record for filings this quarter (Q3 2009) since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was written into law.
There is an obvious increase in Chapter 7 (visit the link to visit the US Court web site for a Chapter 7 bankruptcy basics page) bankruptcy claims stemming from the credit crunch that hit America in October 2008. Bankruptcy filings were one of many indicators in our financial system that pointed to an increase in debt loads which correlated to the overall unmanageable risk to the system. However, although the collapse of our financial system has contributed to an increase in fillings, the numbers have in fact been increasing since late 2006.
