Inquiring minds are reading “O.C. bankruptcies rise 28 percent…” which says it all. The data is pretty ugly:
…18,863 individuals and businesses filed for bankruptcy last year, up 28 percent from 2009, when numbers totaled 14,739, according to new stats from the U.S. Bankruptcy Court for the Central District.
Chapter 7 filings dominated in 2010; a total of 15,764 were reported in the period. That number is up 26.7 percent from 2009. Chapter 13 bankruptcies saw the next largest total, with about 2,894 reported. That number is up 42.1 percent from the prior year.
Chapter 11 bankruptcies, on the other hand, dropped 21.3 percent. There were a total of 203 filings, according to the stats.
A total of 142,802 individuals and businesses filed for bankruptcy in 2010 in the entire seven-county Central District – which includes Orange, L.A., Riverside, San Bernardino, Santa Barbara, Ventura and San Luis Obispoup. That is a 35 percent increase over 2009.
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