San Antonio Bankruptcies on the Rise
Posted on Jan 8, 2009 11:35am PST
According to Bizjournals.com, bankruptcy filings throughout San Antonio, Texas are on the rise. A new statistic released by the U.S. Bankruptcy Clerk's office reports that filings increased 14% between 2007 and 2008.
The statistic revealed that 3,941 individuals and companies in San Antonio filed for Chapter 11 and Chapter 7 bankruptcy in 2008. That number is up from 3,460 reported filings in 2007.
In the month of December, San Antonio received 356 bankruptcy petitions, which is an 18.6% increase from the same time period in 2007. In December 2007, only 300 people filed for bankruptcy. San Antonio is not the only area in Texas that has had an increase in bankruptcy filings. Reports indicate that Dallas had 606 filings, Austin had 234 filings, and that Waco had 116 filings, which is staggering.
Throughout the state of Texas, bankruptcy filings are reaching relatively high numbers. The total number of reported bankruptcies in the Western District of Texas was 10,342 in 2008. In 2007, that number was at 9.081, which is a 14% increase.
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