Massive increase in bankruptcy filings

Auld Lang Syne has been sung, the noisemakers put away, but its still time for the bankruptcy court administrators to take a look back at 2009. The verdict? A massive 31.9% increase in bankruptcy filings.

Thinking of filing under Chapter 7? If you had done it last year, you would have had more than a million (1,050,832) fellow souls in the same boat as you.

More than 406,000 individuals opted for Chapter 13.

All told, there were more than 1.4 million non-corporate individual filings in 2009.

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