Consumers are doing a better job of getting their financial houses in order.
Bankruptcy filings are down 10 percent through the first nine months of the year compared to 2010, according to a report released today by the American Bankruptcy Institute. There were 1,044,722 filings compared to 1,165,172 last year.
“The trend of declining filings has been consistent with consumers continuing to reign in their spending, household debt, and an overall pull back in consumer credit,” said ABI Executive Director Samuel J. Gerdano. “Total consumer filings for 2011 will be less than 2010.”
For the month of September, consumer bankruptcies were down 17 percent from 2010 and 4 percent from August.
Related Stories
Peppermill Finish
NAHB Announces Action Plan for Housing Affordability
Six of the proposed 10 action items are important to residential remodelers
Re-Bath Expands its Reach with New Franchise
The company signs a deal with brothers who are first-time franchisees
NARI Renames Awards Program
The awards program has a new name, but continues its tradition of recognizing the best in residential remodeling
Registration Open for Women in Residential+Commercial Construction Conference 2024
Join 300+ women in construction for three days of impactful idea-sharing and networking in Phoenix
Power Home Remodeling Expands Financing Offshoot with $400M from Goldman Sachs
Industry-leading home improvement company Power plans to grow its fintech offshoot fivefold with new investment
Great Day Improvements Acquires LeafGuard and Englert
Leading home improvement company Great Day Improvements purchases two major brands from private equity firm Audax
Metros with the Highest and Lowest Remodel ROI
First-time homebuyers can find fixer-upper listings priced between 5 to 10% lower than move-in ready homes. The high return on investment of these projects shows that remodeling remains a strong option to navigate the current housing market
Latest Private Equity Activity Signals Continued Strength in Home Improvement
A hot month for private equity means the industry remains opportunity-rich
Pro Remodeler Wins Two Prestigious Jesse H. Neal Awards
The editorial team was honored with one of B2B journalism's most prestigious awards in the categories of Best Subject-Related Package and Best Range of Work by a Single Author