Bankruptcy Filings Rise Sharply in 2007

Law360 (August 6, 2007, 12:00 AM EDT) -- U.S. Bankruptcy filings surged last month, as the housing market turmoil that has recently spooked Wall Street also played out in federal bankruptcy court. July filings are up 38% over filings from the same month in 2006.

Total bankruptcy cases for the first seven months of this year are already 50% higher than they were this time last year, according to data from Jupiter eSources LLC, which operates Automated Access to Court Electronic Records, a bankruptcy research firm.

Through the month of July, 460,828 bankruptcies have...
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