As reported by the American Bankruptcy Institute, total bankruptcy filings nationwide declined 12% in July 2014 as compared to the previous year. Specifically, consumer filings declined 11%, and commercial filings declined 21%.
Samuel J. Gerdano, Executive Director of the American Bankruptcy Institute, opined that high filing costs and low interest rates have caused consumers and businesses to choose against pursuing bankruptcy to obtain financial relief. Mr. Gerdano also suggested that total bankruptcy filings for 2014 might fall below one million for the first time since 2007
Samuel J. Gerdano, Executive Director of the American Bankruptcy Institute, opined that high filing costs and low interest rates have caused consumers and businesses to choose against pursuing bankruptcy to obtain financial relief. Mr. Gerdano also suggested that total bankruptcy filings for 2014 might fall below one million for the first time since 2007
RSS Feed
