Minnesota Bankruptcy filings Highest in a Decade?

So says today’s Pioneer Press. The headline is “State bankruptcy levels highest in decade.” I found this interesting to say the least, and just spent a bit of time looking at statistics for Minnesota bankruptcy filings on the American Bankruptcy Institute site. I thought I would check it out, because I always thought we had never gotten back to the levels we were at in October of 2005 just before the new law went into effect.

Turns out I was right, or at least I think I was. The Pioneer Press article is apparently comparing the first five months of the year this year with the first five months of every year going back ten years. If you do that, yes this is the highest year ever. However, if you compare the first quarter of this year with the last quarter of 2005, the last quarter of 2005 was significantly higher. I don’t think we have ever really surpassed that big rush we had in late 2005.

I have to admit though, it has been really busy around here. I did just file five cases in the last five days of June. Maybe that’s not a lot for some lawyers, but it’s a lot for me.

Comments

  1. Declaring Personal Bankruptcy says:

    Few words more…Filing for bankruptcy in Minnesota does not cancel all of your debts. You may be required to pay the following:

    * Alimony & Child Support
    * Taxes
    * Student Loans
    * Purchases of luxury items within 90 days of filing….Declaring Personal Bankruptcy

  2. camilyn says:

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