After bouncing higher in July, consumer bankruptcy filings retreated last month. The latest activity pushed year-to-date bankruptcies past 1 million.
Consumers filed 127,028 bankruptcies in August, fewer than 137,698 a month earlier. The prior report indicated monthly filings had risen 9 percent from June.
The bankruptcy statistics were reported by the American Bankruptcy Institute, which in turn relies on data from the National Bankruptcy Research Center.
During August 2009, filings were 119,874.
Year-to-date Aug. 31, 2010, filings totaled 1,034,843. By Dec. 31, the figure is projected to rise to 1.6 million.
ABI said 29 percent of August filings were Chapter 13, working out to around 36,800 filings. The previous month, 28 percent of bankruptcies were Chapter 13, amounting to approximately 38,600 filings.
The Alexandria, Va.-based trade group said attorneys, lenders and judges as well as turnaround specialists and other bankruptcy professionals are among its more than 12,600 members.
