1 Million Bankruptcies

Nearly 1 million individuals and businesses filed bankruptcy in the 12 months ended June 30, according to U.S. Court data released August 27, 2008. There were 967,831 bankruptcy cases filed since July 1, 2007, up 28.9 percent from the prior 12 months, when cases totaled 751,056. Non-business filings made up 96.5 percent of those cases, but on the business side a total of 33,822 cases were filed in the 12-month period, including 23,372 under Chapter 7.

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