Bankruptcy Filings Hit Lowest Level in 5 years

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00018396-bankruptcy-filings-hit-lowest-level-in-5-/

Due in no small part to the dramatic changes the U.S. applied to its bankruptcy laws, bankruptcy filings fell more than 9 percent in the last year ? and reached its lowest level in nearly five years, according to a story running in, among other places, Business Week.

Last year?s 1.6 million bankruptcy filings became this year?s 1.5 million.

The article goes on to show that filings under Chapters 7, 11, and 13 all fell, while only Chapter 12 filings rose.