Bankruptcy Filings Down Since October
As expected, many consumers who were thinking about declaring bankruptcy rushed to get in before the law changed this past October. An average week for bankruptcy filings was around 30,000 before the effects of the new law were felt, and in the week before the new law 479,430 people filed for bankruptcy!
In the weeks since the new bill was passed we've seen the number of consumers filing for bankruptcy fall to only 3,000 per week. That number seems to be on the rise, with 3,600 filings last week, as the market appears on course to return to normal.
