Personal Bankruptcies Refuse to Slow

Lenders hoping for a respite in personal bankruptcy filings continue to be disappointed. As of the end of the 25th week of 2003 (through June 21st) personal bankruptcy filings in the U.S. were up 9.7% from the same period one year earlier. The chart below derives from statistics compiled from courthouse records by the National Bankruptcy Research Center (a product of Lundquist Consulting, Inc., Burlingame, CA, accessible at www.NBKRC.com). Chargeoff rates in credit card portfolios will continue to reflect this trend.

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