{"id":169,"date":"2011-03-25T08:34:07","date_gmt":"2011-03-25T08:34:07","guid":{"rendered":"http:\/\/www.westcoastbk.com\/blog\/?p=169"},"modified":"2013-10-30T00:13:44","modified_gmt":"2013-10-30T00:13:44","slug":"bankruptcy-statistics-for-the-united-states-bankruptcy-court-northern-district-of-california-for-2007-and-2008","status":"publish","type":"post","link":"https:\/\/www.westcoastbk.com\/blog\/2011\/03\/bankruptcy-statistics-for-the-united-states-bankruptcy-court-northern-district-of-california-for-2007-and-2008\/","title":{"rendered":"Bankruptcy Statistics for the United States Bankruptcy Court Northern District of California for 2007 and 2008"},"content":{"rendered":"<p>By <a href=\"http:\/\/www.westcoastbk.com\/ryan-c-wood-bay-area-bankruptcy-attorney.aspx\" rel=\"author\">Ryan C. Wood<\/a><\/p>\n<p>After the passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act and the rush to file bankruptcy before the law change, many attorneys believed bankruptcy filings would decrease.\u00a0 Well, the mortgage crisis and bad economy changed all of that.\u00a0 The following is a comparison of bankruptcy filings under Chapter 7, Chapter 13 and Chapter 11 for the United States Bankruptcy Court Northern District of California.<\/p>\n<p>In 2007 there were a total of 127,359 bankruptcy cases filed in the Northern District of California.\u00a0 Each month and each quarter of the year filings increased month after month.\u00a0 2007 really was the start of increases in bankruptcy filings.\u00a0 The 2<sup>nd<\/sup> quarter of 2007 realized a 16% increase in bankruptcy filings, the 3<sup>rd<\/sup> quarter of 2007 increased 7% more and the 4<sup>th<\/sup> quarter of 2007 increased another 14% for a total of 21,758 filings for the last three months of 2007.\u00a0 2008 realized an even larger increase in cases filed.\u00a0 The 1<sup>st<\/sup> Quarter increased 18% from the last quarter of 2007, the 2<sup>nd<\/sup> quarter of 2008 increased 26%, the 3<sup>rd<\/sup> quarter of 2008 increased 14% and the 4<sup>th<\/sup> quarter increased by 3% for a total of 38,011 filings for the last three months of 2008.<\/p>\n<p><strong><span style=\"text-decoration: underline;\">Increase in Filings For the United States Bankruptcy Court Northern District of California from 2007 &#8211; 2008<\/span><\/strong><\/p>\n<p><span style=\"text-decoration: underline;\">Quarter<\/span>. . . . . . .<span style=\"text-decoration: underline;\">Year<\/span> . . <span style=\"text-decoration: underline;\">Cases Filed<\/span> . . <span style=\"text-decoration: underline;\">Quarter<\/span> . . . . . . .<span style=\"text-decoration: underline;\">Year<\/span> . . . <span style=\"text-decoration: underline;\">Cases Filed<\/span> . . . . <span style=\"text-decoration: underline;\">2007 \u2013 2008 Increase<\/span><\/p>\n<p>1<sup>st<\/sup> Quarter \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0 15,041\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1<sup>st<\/sup> Quarter \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0\u00a0 25,727\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 71% more than 2007<\/p>\n<p>2<sup>nd<\/sup> Quarter \u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0 17,505\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2<sup>nd<\/sup> Quarter\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0\u00a0 32,387\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 85% more than 2007<\/p>\n<p>3<sup>rd<\/sup> Quarter \u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0 18,778\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3<sup>rd<\/sup> Quarter\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0\u00a0 37,083\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 97% more than 2007<\/p>\n<p>4<sup>th<\/sup> Quarter \u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0 21,758\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4<sup>th<\/sup> Quarter\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0\u00a0 38,011\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 75% more than 2007<\/p>\n<p><strong><span style=\"text-decoration: underline;\">Increase in Bankruptcy Filings For the Whole 9<sup>th<\/sup> Circuit from 2007 &#8211; 2008<\/span><\/strong><\/p>\n<p><span style=\"text-decoration: underline;\">Quarter<\/span> . . . . . . <span style=\"text-decoration: underline;\">Year<\/span> . . .<span style=\"text-decoration: underline;\">Cases Filed<\/span> . . . . <span style=\"text-decoration: underline;\">Quarter<\/span> . . . . . .<span style=\"text-decoration: underline;\">Year<\/span> . . <span style=\"text-decoration: underline;\">Cases Filed<\/span> . . . <span style=\"text-decoration: underline;\">2007 \u2013 2008 Increase<\/span><\/p>\n<p>1st Quarter \u00a0\u00a0 \u00a0\u00a0 2007\u00a0\u00a0\u00a0\u00a0 26,960\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1st Quarter \u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0 42,165\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 56% more than 2007<\/p>\n<p>2nd Quarter \u00a0\u00a0 \u00a0 2007\u00a0\u00a0\u00a0\u00a0 31,124\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2nd Quarter\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0 52,874\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 69% more than 2007<\/p>\n<p>3rd Quarter \u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0\u00a0 32,808\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3rd Quarter\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0 60,026\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 82% more than 2007<\/p>\n<p>4th Quarter \u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0\u00a0 36,467\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4th Quarter\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0 61,395\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 68% more than 2007<\/p>\n<p>As shown above, bankruptcy filings increased by approximately 70% from 2007 to 2008.\u00a0 The number of foreclosures and adjusting interest only or negative amortization mortgages contributed significantly to the increase in bankruptcy cases.\u00a0 Also layoffs and the general sluggishness of the economy contributed as well.\u00a0 As 2009 approached the number of filings continued to increase at an even larger percentage.\u00a0 Bookmark Bay Area Bankruptcy Buzz for more information about the increase in bankruptcy filings during 2009.\u00a0 We will also be providing comparisons of the increase and number of filings in various states throughout the United States.<\/p>\n<p>Contact us today for information from our <a href=\"http:\/\/www.westcoastbk.com\/san-jose-bankruptcy-attorney.aspx\">bankruptcy lawyer<\/a> or <a href=\"http:\/\/www.westcoastbk.com\/oakland-bankruptcy-lawyer.aspx\">bankruptcy attorney<\/a> to find out if bankruptcy is right for you and your family.\u00a0 You may reach us toll free at 1-877-963-9543 or submit your information with our on-line submission form.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act and the rush to file bankruptcy before the law change, many attorneys believed bankruptcy filings would decrease.  Well, the mortgage crisis and bad economy changed all of that.  The following is a comparison of bankruptcy filings under Chapter 7, Chapter 13 and Chapter 11 for the United States Bankruptcy Court Northern District of California.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"_links":{"self":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/169"}],"collection":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/comments?post=169"}],"version-history":[{"count":27,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/169\/revisions"}],"predecessor-version":[{"id":1086,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/169\/revisions\/1086"}],"wp:attachment":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/media?parent=169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/categories?post=169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/tags?post=169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}