bankruptcy lawyer

» During 2008, filings in the U.S. bankruptcy courts rose 30 percent over the previous year to 1,042,993.

» Chapter 7 cases constituted a greater percentage of total filings this year than they did the previous year, accounting for 65 percent of all cases filed in 2008, compared to 60 percent in 2007. Chapter 7 filings rose 40 percent to 679,982 in 2008, climbing in 90 of the 94 districts.

» Chapter 13 filings rose 14 percent to 353,828 and accounted for 34 percent of all new petitions in 2008, compared to 39 percent in 2007. Seventy-two districts reported increases, and 21 reported declines.

» The largest percent- age increases occurred in the Central District of California (up 96 percent over 2007), the Eastern District of California (up 83 percent), the District of Nevada (up 77 percent), and the Southern District of California (up 74 percent).

» Consumer debtors seeking bankruptcy protection under chapters 7, 11 or 13 during 2008 reported holding total assets in the aggregate amount of $149 billion and total liabilities in the aggregate amount of $213 billion.

» The media average monthly income of all debtors was $2,628 (6 percent higher than 2007) and the median average expenses were $2,676 (10 percent higher than 2007).

» Chapter 7 consumer cases that closed in 2008 had a mean time interval from filing to disposition of 151 days and median time interval of 118 days. 209,000 reaffirmation agreements were reported filed in 143,000 chapter 7 consumer cases terminated during 2008.

» In 30 percent of the chapter 13 cases filed during 2008 debtors indicated that they had filed for bankruptcy during the previous eight years, the same percentage reported in 2007.