Bankruptcy Filings Begin to Creep Upward from All-time Low

Bankruptcy filings, after plunging to an all-time low in the first quarter of 2006 ? thanks, in no small part, to tougher bankruptcy filing laws passed last November ? are slowly starting to creep back up again, according to a story on CNNMoney.com.

New cases plunged to 13,758 in November, then rose to 21,636 in December, 27,235 in January, 35,352 in February and 49,977 in March, according to the Administrative Office of the U.S. Courts.

“We are starting to see more bankruptcies being filed. They’re taking longer, they’re more complicated,” said Maureen Thompson, legislative director of the National Association of Consumer Bankruptcy Attorneys. “These numbers will continue to creep up as people face a number of economic factors.”

You can read more about this story at Bankruptcy filings up despite reforms.