Bankruptcy Filings Leapt 9% Last Year

[CARLHAYDEN]

Bankruptcy Filings Leapt 9% Last Year

By SARA MURRAY

The number of Americans filing for personal bankruptcy topped 1.5 million last year, as high long-term jobless rates and depressed home prices drove more households to seek court protection

http://online.wsj.com/article/SB10001424052748704111504576060181631140482.html?mod=WSJ_hp_LEFTWhatsNewsCollection

[Grumpier Than Uncle Joe]

A little broader picture and a bit of a history lesson, CARL HEY DON:

Business and Non-Business Filings
Years Ended September 30, 1999-2004


FY     Business Non-Business TOTAL

2004 34,817 1,584,170 1,618,987
2003 36,183 1,625,813 1,661,996
2002 39,091 1,508,578 1,547,669
2001 38,490 1,398,864 1,437,354
2000 36,065 1,226,037 1,262,102

Source:  US Bankruptcy Court

[CARLHAYDEN]

A little broader picture and a bit of a history lesson, CARL HEY DON:

Business and Non-Business Filings
Years Ended September 30, 1999-2004


FY     Business Non-Business TOTAL

2004 34,817 1,584,170 1,618,987
2003 36,183 1,625,813 1,661,996
2002 39,091 1,508,578 1,547,669
2001 38,490 1,398,864 1,437,354
2000 36,065 1,226,037 1,262,102

Source:  US Bankruptcy Court

Are you aware of the changes in federal bankruptcy law changes made in 2005?

[Grumpier Than Uncle Joe]

A little broader picture and a bit of a history lesson, CARL HEY DON:

Business and Non-Business Filings
Years Ended September 30, 1999-2004


FY     Business Non-Business TOTAL

2004 34,817 1,584,170 1,618,987
2003 36,183 1,625,813 1,661,996
2002 39,091 1,508,578 1,547,669
2001 38,490 1,398,864 1,437,354
2000 36,065 1,226,037 1,262,102

Source:  US Bankruptcy Court

Are you aware of the changes in federal bankruptcy law changes made in 2005?

Yes.......but was it a gimme prior to that?

[CARLHAYDEN]

A little broader picture and a bit of a history lesson, CARL HEY DON:

Business and Non-Business Filings
Years Ended September 30, 1999-2004


FY     Business Non-Business TOTAL

2004 34,817 1,584,170 1,618,987
2003 36,183 1,625,813 1,661,996
2002 39,091 1,508,578 1,547,669
2001 38,490 1,398,864 1,437,354
2000 36,065 1,226,037 1,262,102

Source:  US Bankruptcy Court

Are you aware of the changes in federal bankruptcy law changes made in 2005?

Yes.......but was it a gimme prior to that?

“Many of the bill's provisions were explicitly designed by the bill's Congressional sponsors to make it more difficult for people to file for bankruptcy.”

http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act

[Grumpier Than Uncle Joe]

A little broader picture and a bit of a history lesson, CARL HEY DON:

Business and Non-Business Filings
Years Ended September 30, 1999-2004


FY     Business Non-Business TOTAL

2004 34,817 1,584,170 1,618,987
2003 36,183 1,625,813 1,661,996
2002 39,091 1,508,578 1,547,669
2001 38,490 1,398,864 1,437,354
2000 36,065 1,226,037 1,262,102

Source:  US Bankruptcy Court

Are you aware of the changes in federal bankruptcy law changes made in 2005?

Yes.......but was it a gimme prior to that?

“Many of the bill's provisions were explicitly designed by the bill's Congressional sponsors to make it more difficult for people to file for bankruptcy.”

http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act

Yes, yes, I know all of that, but you and I will never know how many of the earlier cited bankruptcies would have qualified under the current law.

Your post was meant for shock value..........we're not shocked.

[CARLHAYDEN]

Since the new law went into effect October 17, few consumers have used the new bankruptcy system, according to the consulting company.

http://www.consumeraffairs.com/news04/2006/01/bankruptcy_2005.html

 4/17/2007

WASHINGTON — A year after a massive reworking of bankruptcy laws went into effect, the number of bankruptcy filings nationwide dropped last year to the lowest level in nearly 20 years

http://www.msnbc.msn.com/id/18158583/ns/business-personal_finance/

[Grumpier Than Uncle Joe]

The sad part of your stats, CARL, is the downward slide to financial doomsday for many of these filers began, uh, uh, uh, B.O.  (before Obama).

Again, no one here is shocked.

[CARLHAYDEN]

The sad part of your stats, CARL, is the downward slide to financial doomsday for many of these filers began, uh, uh, uh, B.O.  (before Obama).

Again, no one here is shocked.

So now you acknowledge that your previous comparison was invalid?

[Grumpier Than Uncle Joe]

The sad part of your stats, CARL, is the downward slide to financial doomsday for many of these filers began, uh, uh, uh, B.O.  (before Obama).

Again, no one here is shocked.

So now you acknowledge that your previous comparison was invalid?

No, because you're posting articles 3 and 4 years old to support 2010 filings.......I showed  you the filings from years before the 2005 rush.......

And you didn't say you disagreed that their financial woes began occurring before, or immediately after Obama took office........

You might have a point (I assume your point is it's Obama's fault) when the 2011 numbers come out........we'll see.

[CARLHAYDEN]

The sad part of your stats, CARL, is the downward slide to financial doomsday for many of these filers began, uh, uh, uh, B.O.  (before Obama).

Again, no one here is shocked.

So now you acknowledge that your previous comparison was invalid?

No, because you're posting articles 3 and 4 years old to support 2010 filings.......I showed  you the filings from years before the 2005 rush.......

And you didn't say you disagreed that their financial woes began occurring before, or immediately after Obama took office........

You might have a point (I assume your point is it's Obama's fault) when the 2011 numbers come out........we'll see.

Wrong.

I posted the articles to indicate that the data you cited is not comprable to the recent data I initially cited!

Next, you make a number of unfounded assumptions.  While there is plenty of blame to share with respect to the economy, Obama policies have made things worse (they were already bad enough).