Bankruptcy filings down

December 5, 2006 — Bankruptcy cases filed in federal courts tumbled in fiscal year 2006. According to the Administrative Office of the U.S. Courts, filings for FY 2006, the 12-month period ending September 30, 2006, fell 37.6 percent to 1,112,542, from total filings of 1,782,643 in FY 2005. The FY 2006 figures include most of the filings that were part of the surge in filings prompted by the October 17, 2005, implementation date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005; filings began to rise in the late FY 2005 and peaked as over 600,000 petitions were filed in the first 16 days of October 2005.

Press release from the US Courts web site.