NEW ORLEANS (AP) — Sharply higher numbers of people and businesses in Louisiana sought refuge from debt in federal bankruptcy court, crippled by the housing collapse, credit cards and sharply lower retail sales.According to the Administrative Office of United States Courts, there were 18,268 bankruptcy filings in the state from Oct. 1, 2008, through Sept. 30, 2009, up 18 percent from the previous year’s filings of 15,412.The number of businesses heading for court exploded during the most recent year. There were 844 business filings in Louisiana for 2008-09, up 38.4 percent from 610 for 2007-08.During 2008-09, there were 17,424 nonbusiness filings, up 17.7 percent from the previous year’s 14,802.Nationally, total bankruptcies rose 34 percent over the same time.——Contact the Daily Reveille at [email protected]
Bankruptcy filings shoot up by 18 percent in Louisiana
By The Associated Press
January 19, 2010