April Bankruptcy Filings Decrease

The image above represents bankruptcy filings in the Western District of Kentucky from January 1, 2010 through April 30, 2010. Monthly totals decreased by 231 in the Western District during April.

The image above represents bankruptcy filings in the Eastern District of Kentucky from January 1, 2010 through April 30, 2010. Monthly totals decreased by 286 in the Eastern District during April.

The decrease in monthly totals for both Districts in April is consistent with the trend of March being the month of the year in which the most bankruptcies are filed. The trend of the greatest number of bankruptcies being filed in March is generally believed to be linked to the timing of individuals receiving tax refunds. Many individuals in need of bankruptcy relief use their tax refunds to pay the flat fee that most bankruptcy professionals require to be paid in full prior to the filing of a bankruptcy case.