Bankruptcy filings shoot up in La. - KPLC 7 News, Lake Charles, Louisiana

Bankruptcy filings shoot up in La.

NEW ORLEANS (AP) - Higher numbers of people and businesses in Louisiana sought refuge from debt in federal bankruptcy court last year.

According to the Administrative Office of United States Courts, there were 18,268 bankruptcy filings in the state from Oct. 1, 2008 through Sept. 30, 2009, up more than 18 percent from the previous year's filings of 15,412.

There were 844 business filings in Louisiana for 2008-09, up 38.4 percent from 610 for 2007-08.

During 2008-09, there were 17,424 nonbusiness filings, up 17.7 percent from the previous year's 14,802.

Nationally, total bankruptcies rose 34 percent over the same time, with business filings jumping 51 percent and individual filings going up 33.9 percent.

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