BANKRUPTCY FILINGS INCREASING

According to records maintained by the United States Bankruptcy Court for the District of Maine, the number of new bankruptcy cases filed through the end of October, 2010, is almost 8% higher than the total number of new bankruptcy cases filed through the first ten months of 2009. The biggest percentage increase is in the number of Chapter 7 filings, which increased 9.8%, from 2779 cases for the first ten months of 2009, to 3053 cases for the first ten months of 2010. Chapter 13 filings increased 4.7%, from 467 to 489 over the same period. Chapter 11 casesĀ forĀ the same period decreased substantially, dropping 66% from 50 cases to 17 cases. The 2010 Maine filing statistics can be found at http://tinyurl.com/36raew7.

The trend in Maine filings is reflective of the trend in bankruptcy filings nationally where non-business bankruptcy filings have increased 14.4% over fiscal year 2009 and business bankruptcy filings have decreased 3.8% over the same period. The national filing statistics can be found at http://tinyurl.com/27mneop.

The attorneys at Gosselin & Dubord, P.A. located in Lewiston, Maine have extensive experience with creditor representation in bankruptcy matters and stand ready to assist you. Please contact Attorney David R. Dubord at (207) 783-5261 or drd@gosselindubord.com.