Posted: July 29, 2014

2013 Report Shows Fewer Debtor Assets, More Repeat Bankruptcy Filers

Individuals filing for bankruptcy in 2013 reported fewer assets, lower total liabilities, and lower median income when compared to filers in the preceding year, according to a report recently filed by the federal Judiciary with Congress. The report also found that in 2013 a greater proportion of debtors were repeat filers.

The report, which the Judiciary is required to file annually under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), focuses on individuals with predominantly consumer debt.

Read the full article from the US Courts web site at the link below.

Source (US Courts web site):