The total number of bankruptcies filed during the first six months of 2010 in Massachusetts increased by roughly 19 percent over the same six-month period in 2009, driven by sharp increases in consumers seeking relief from debt, according to data released by the Administrative Office of the U.S. Courts.
Nationwide, the filings increased by 14 percent, the data show.
Total filings in Massachusetts reached 12,159 for the first six months of 2010, compared with 10,185 in last year's first half.
National filings reached 810,209 during the first half of the calendar year of 2010, compared with 711,550 cases filed over the same period in 2009. The totals represent the highest number of filings for the first six months of a calendar year since 2005, when the Bankruptcy Code was amended.
On both the state and national levels, nonbusiness filings drove the increase, whereas business filings saw overall declines.
"Bankruptcy continues to be the last resort for many Americans seeking financial relief from household debt, unemployment and the economic downturn," Samuel J. Gerdano, executive director of the American Bankruptcy Institute, said in a statement. "The first half 2010 filings show that bankruptcies are on pace to surpass 1.6 million by year end."
Business filings in Massachusetts went from 354 to 287, thanks to a decrease in Chapter 7 liquidation filings. Chapter 11 reorganizations increased from 84 to 100.
Individuals filing for bankruptcy protection in Massachusetts jumped 20 percent, going from 9,831 to 11,872. Chapter 7 and Chapter 11 filings alike saw increases. Chapter 7's went from 8,131 to 9,252, while Chapter 11's jumped from 14 to 22.
Nationally, business filings dropped to 29,059 from 30,333, while filings by individuals or households with consumer debt increased 15 percent to 781,150 for the six-month period, according to the data.
