Wednesday, August 25, 2010

Bankruptcy Petitions on a Rise in Massachusetts

According to the Administrative Office of the U.S. Courts (AOUSC) report, the total number of bankruptcies filed during the first six months of 2010 in Massachusetts increased by approximately 19% over the same six-month period in 2009, driven by sharp increases in consumers seeking relief from debt.

The American Bankruptcy Institute noted that the first half of 2010 posted the highest number of filings recorded since the institution of new regulations in 2005.