Guam bankruptcies still rising in 2009

Two hundred and twenty bankruptcy cases were filed in 2009 in the U.S. District Court of Guam a 47% increase from 2008 when 150 bankruptcy cases were recorded. Of the total number of bankruptcy cases initiated last year 92% were Chapter 7 cases filed by individual debtors. This is a 68% increase from 2008 and a 77% rise from 2007 when 120 and 114 Chapter 7 bankruptcy cases were filed respectively . . .

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