THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

July consumer bankruptcies fall 18%

Bloomberg News / August 3, 2011

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WILMINGTON, Del. - Consumer bankruptcies fell 18 percent in July from the same period last year, the American Bankruptcy Institute reported.

Consumers filed 113,470 bankruptcies last month compared with 137,698 in July 2010, the Alexandria, Va.-based institute said in a statement yesterday.

Last month’s number continues a series of declines that began this year.

In June, 119,768 consumers filed, down from 134,720 in April.

“Should these trends persist, we expect to see fewer consumer bankruptcies in 2011 than were filed in 2010,’’ executive director Samuel J. Gerdano said in the statement, pointing to a deleveraging of household debts during the past year.