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Bankruptcy filings in fiscal year 1998, the 12-month period ending September
30, totaled 1,436,964, as filings once again topped the one million mark. While
the filings for FY98 were a 5 percent increase over the same fiscal year period
in 1997, this growth was less than the 23 percent increase in FY97 and the 26
percent increase in FY96. Bankruptcy filings first exceeded one million in the
12-month period ending June 30, 1996.
Filings for the 12month period may have increased, but filings for the final
quarter of the fiscal year dipped slightly when compared to the third quarter.
This was due to a smaller number of business bankruptcy filings. Most
bank-ruptcy filings are non-business or personal filings. This drop may be due
to the seasonal nature of bankruptcy filings; filings in the final quarter of
the fiscal year are typically lower than the third quarter totals.
For information on bankruptcies by chapter and district, visit the
Judiciary's website at http://www.uscourts.gov.
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