Bankruptcy Knoxville

In a possible positive sign for the economy, the number of bankruptcy filings fell during November. The total number of filings was still up 12% over last year, but it was down 18% from the amount of filings in October. Depending on where the December numbers come in, the total quarterly filing could decrease from last quarter’s filings. Believe it or not, this has not happened since the third quarter of 2005 when the new bankruptcy laws became effective. Total Bankruptcy reports:

A total 112,152 consumer bankruptcy petitions were filed in November, down 18% from the 132,749 filed in October. Even though the U.S. Courts were open fewer days in November, the number shows the bankruptcy rate slowing, though moderately.

The average daily filing was 6321 in October, and 5903 in November.

Still, the November statistic remains 12% above the November 2008 bankruptcy figure, when 99,925 consumers filed.

Are you struggling with your finances? Looking for Knoxville bankruptcy help? Call us today for a free consultation about your case.