Record Bankruptcy Filings (Again!)

With the pressure of both a shaky economy and the impulse to act before the new law kicks in, businesses and consumers filed a record 400,394 bankruptcies in the quarter ending June 30, the Federal Government reported.The quarterly total was 24.5% above the year-ago 321,729, the Administrative office of the U.S. Courts said. 6-month filings of 767,235 cases put bankruptcies on course to break the record of 1,442,549 cases set in 1999, said the American Banktruptcy Insitute.