New Bankruptcy Law Contributing to Decreased Caseloads According to Latest ABI Poll
NEW BANKRUPTCY LAW CONTRIBUTING TO DECREASED CASELOADS ACCORDING TO LATEST ABI POLL
May 19, 2006, Alexandria, Va. — Nearly two-thirds of the respondents (63 percent) to the most recent American Bankruptcy Institute (ABI) online poll reported a decrease in caseloads over the past six months due in part to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Only 13 percent of the respondents said they experienced an increased caseload over the past six months, which they attributed in part to the implementation of BAPCPA.
Out of the respondents who felt the new law had little impact on their caseloads over the past six months, 3 percent reported an increase in cases, while 9 percent reported a decrease. Twelve percent of respondents claimed that BAPCPA had no noticeable impact on their caseloads. Bankruptcy filings are way down in 2006, averaging about 10,000 new cases per week, compared to about 30,000 per week in recent years.
ABI members were welcome to submit their response to the following statement: “Six months into the new bankruptcy law, the impact on your practice has been: Increased/decreased caseload, caused/unrelated in part to the law?” This poll was open for voting from May 11-18.
The ABI Quick Poll is posted on ABI’s home page, www.abiworld.org. ABI members and the public are invited to respond to a question on a timely bankruptcy or insolvency issue.
Visit http://www.abiworld.net/quickpoll/ to access the results of previous ABI’s Quick Poll.
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 11,500 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.