Posted On: April 6, 2010


Downtown San Jose law firm is key component in highest March bankruptcy filings to date since 2005’s Bankruptcy Code restructure.

The first quarter closed and the numbers are in. The American Bankruptcy Institute (ABI) reports total filings for consumer bankruptcies as 149,268.

Of that staggering number, San Jose’s own Bankruptcy Law Firm, PC filed .00058 % of all bankruptcies filed nationwide. The grand total is the highest since 2005, according to ABI and the National Bankruptcy Center (NBKRC) data findings, and marks a 34% increase from February 2010’s 121,413 bankruptcy filing totals. March 2009 reported a total number of bankruptcies filed at 111,693, reflecting a 23% increase year to date.

Bankruptcy filings nationwide include Chapter 13 bankruptcy filings as well as the popular Chapter 7 bankruptcy, aka the Fresh Start, and three out of four bankruptcies filed by debtors were under the Chapter 7 category of the United States Bankruptcy Code.

Scott Sagaria of Bankruptcy Law Firm, PC had this to say on the number of March filings that may shock most, “While these numbers may not instill optimism with regard to the current state of the economy on the whole, our firm is proud to represent our community in a way that forwards the bankruptcy model for an informed consumer, with a focus on consumer advocacy rights and the timely and efficient bankruptcy filing that everyone deserves.” He adds that the fact that his firm is smaller and hands-on, rather than large and impersonal, and has a wide reach along the West Coast are two key factors in its success. The overhaul of the Bankruptcy Code by Congress represents the 2005 marker.

Toby White
Bankruptcy Law Firm PC

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