Bankruptcies From Non-Business Debt Fell 11 Percent in 2011, Report Says

During calendar year 2011, 1.3 million bankruptcy petitions were filed by individuals with predominantly non-business debt, a decrease of 11 percent over the number of filings in 2010, according to the Administrative Office of the U.S. Courts’s (AOUSC) annual report to Congress released Aug. 27.

The “2011 Report of Statistics Required by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005” is mandated by 28 U.S.C. § 159(b), enacted as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), and provides statistics about debtors, such as their assets and liabilities, and income and expenses ...