In a news release yesterday, the American Bankruptcy Institute announced the statistics for consumer bankruptcies filed in February of this year. There were 111,693 consumer bankruptcies filed nationwide. When you examine the statistics you realize how many people have actually chosen bankruptcy as a solution to their difficulties. For example, those consumer bankruptcies represent a fourteen percent increase compared to February of last year. Not only that, the National Bankruptcy Research Center (NBKRC) found that this number represented a nine percent increase over the 102,254 consumer filings reported in January 2010.

“While Congress and the Obama administration continue to consider measures to reduce high unemployment and mortgage burdens, families with increasing debt loads have little choice but to continue to turn to bankruptcy for financial relief,” said ABI Executive Director Samuel J. Gerdano. “Consumer filings this year will likely surpass 1.5 million filings, or the same number of annual filings averaged in the years leading up to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.”

If you have any questions and live in Denver, Aurora, Arvada, Brighton, Broomfield, Commerce City, Englewood, Golden, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, Colorado please feel free to contact me. Kevin D. Heupel, Colorado Bankruptcy lawyer, 303-955-7570, COBankruptcyHelpEmail, free-consultation form.