U.S. bankruptcies rise, but business filings dip

* Total bankruptcy filings rise to 1,596 in fiscal 2010

* Business filings dip

WILMINGTON, Del., Nov 8 (BestGrowthStock) – U.S. bankruptcies rose
13.8 percent in the year to Sept. 30 but business filings fell for
the first time since the start of the most recent recession,
according to government data on Monday.

Business filings fell 0.7 percent as the economy
strengthened and lending picked up, according to a report from the
Administrative Office of the U.S. Courts.

However, at 58,322 the number of business filings is still
double the level in 2007 just as the U.S. was sliding into its
deepest recession since the Great Depression of the 1930s.

Personal bankruptcies continued to climb during the
government’s fiscal year, rising 14.4 percent to 1.54 million,
which is the highest since a change in the laws led to a rush
by individuals to file for bankruptcy in 2005.
(Reporting by Tom Hals; Editin by Phil Berlowitz)

U.S. bankruptcies rise, but business filings dip