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Craig D. Robins, Esq. New York Bankruptcy Attorney, Longisland bankruptcy attorney

“ Craig D. Robins, Esq., has been a practicing Long Island bankruptcy attorney for over twenty-four years ”

Craig D. Robins, Esq.

Bankruptcy Statistics

Bankruptcy Filings Are Reaching New Highs

Posted on Thursday (November 19, 2009) at 4:30 am to Bankruptcy Statistics

 Written by Craig D. Robins, Esq.
Individual Bankruptcy filings have continued to increase this year, bringing the filings for those overwhelmed by consumer debt to new highs since the bankruptcy laws were overhauled in 2005.
Nationally, the 135,913 consumer bankruptcy filings in October represented a 27.9 percent increase over last October’s monthly total of 106,266.
The above graph, courtesy of the Calculated Risk Blog, shows consumer filings on a quarterly basis going back to 1996.  We are now approaching the levels seen just prior to when the bankruptcy laws were changed in October 2005.
The filings have increased virtually every single quarter since 2006.  I previously wrote about Bankruptcy Filings Returning to Pre-Amendment Levels .
Through October, there have been 1.18 million personal bankruptcy filings in the U.S. 
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National Bankruptcy Filings See Major Increase

Posted on Thursday (August 13, 2009) at 11:51 pm to Bankruptcy and Society
Bankruptcy Statistics

National bankruptcy filings are hitting new highs since the bankruptcy laws were changedWritten by Craig D. Robins, Esq.
Even though some economists recently suggested that the recession may be abating, such projections weren’t apparent in figures just released showing that personal bankruptcy filings have reached 1.25 million for the one-year period ending June 30, 2008, an increase of 34% over the year before.
As I reported previously, we are on our way to a record high number of filings not seen since the bankruptcy laws were changed in 2005.  See Bankruptcy Filings Returning to Pre-Amendment Levels .
Many of my Long Island bankruptcy clients complain that they are no longer able to refinance their homes or get additional credit, a situation where filing bankruptcy becomes the only reasonable solution for dealing with excessive credit card debt.  When you add job loss and other unexpected life events, paying credit card debt for Long Islanders can become impossible.
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New York Bankruptcy Filing Statistics for Second Quarter of 2009

Posted on Monday (July 20, 2009) at 3:15 pm to Bankruptcy Statistics

Written by Craig D. Robins, Esq.
As the recession took hold of the economy, bankruptcy filings have surged from prior levels.
As indicated in the chart below, which was based on data from Automated Access to Court Electronic Records (AACER) , New York had 28,623 bankruptcy filings in the first half of the year. 
Of those filings about 80% were Chapter 7 cases and 20% were Chapter 13 cases.
Based on per capita filings, New York only ranks 37th among all states.  The state with the most filings per capita was Nevada with 10.58 bankruptcies per capita


2009 Bankruptcies for New York                                 


Ratio of filings

Cumulative 2009 filings 28,623                         
Filings per capita (1,000 people) 2.94                         
State rank based on per capita filings 37                         
Total population (July 1, 2008, estimated census) 19,490,297                         
Increase or decrease in per capita filings, 2009 (annualized) over 2008 0.54                         
Rank based on greatest annual per capita increase
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Bankruptcy Filings Returning to Pre-Amendment Levels

Posted on Saturday (June 6, 2009) at 11:45 am to Bankruptcy and Society
Bankruptcy Statistics

Bankruptcy Filings Returning to Pre-Amendment Levels
Written by Craig D. Robins, Esq.
Last month, for the first time since the Bankruptcy Amendment Act had the effect of radically changing the bankruptcy laws in October 2005, the daily number of nationwide filings surpassed the 6,000 mark.
This represents a whopping increase from last year of over forty percent. 
Professor Robert Lawless, of the University of Illinois College of Law, provided some interesting commentary on these statistics in a post this week appearing in the Credit Slips blog.  He suggests that if bankruptcy filings continue at this level, there will be about 1.5 million bankruptcy filings this year.  That is right on par with the level of filings from 2005, just before the bankruptcy law changed.
Chart courtesy of Robert Lawless, Credit Slips
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How Much Do Long Island Chapter 13 Bankruptcy Trustees Earn? 2008 Statistics for Trustees Michael J. Macco and Marianne DeRosa

Posted on Sunday (May 3, 2009) at 10:26 pm to Bankruptcy Statistics
Chapter 13 Bankruptcy
Info on Bankruptcy and the Court
Lawyer to Lawyer

 2008 Statistics for Long Island Chapter 13 Bankruptcy Trustees Michael J. Macco and Marianne DeRosa
Written by Craig D. Robins, Esq.
How much do the Long Island Chapter 13 trustees earn each year?
How many cases to they have?
What are their expenses?
Here are the answers
The United States Trustee Program, which is administered by the United States Department of Justice, requires all Chapter 13 bankruptcy trustees to report detailed figures about their office finances, as well as the distribution of funds collected through Chapter 13 plans.
There are only two Chapter 13 trustees on Long Island
On Long Island, there are only two standing Chapter 13 trustees: Long Island bankruptcy lawyer Michael Macco, who also maintains a private bankruptcy practice in Melville (Macco & Stern), and Marianne DeRosa, who limits her practice of law to Chapter 13 bankruptcy trustee matters.  These two chapter 13 bankruptcy trustees carry the entire Chapter 13 caseload for all of the bankruptcy courts in the Eastern District of New York, which include Central Islip and Brooklyn.
Audited report reveals interesting data
According to the audited report covering 2008, which was just released last week, here are some of the more interesting details:
 How much do the trustees earn?
Both Michael Macco and Marianne DeRosa each earned a salary of $177,526.  This figure is the maximum possible salary that a Chapter 13 trustee can earn in this country, and it is set by statute.
Which trustee is more generous with salaries?
Marianne DeRosa paid employee salaries of $512,826, whereas Michael Macco paid salaries of $363,600.
Which trustee had more cases in 2008?
If Marianne DeRosa paid out much greater salaries, did this mean she had a much busier office?  At the end of 2008 she had 1,639 Chapter 13 cases, whereas Michael Macco had a hundred less – 1,568 cases. 
During the year, Marianne DeRosa received 1,924 new cases while Michael Macco received 1,786.
Which trustee talks more and sends out more mail?
As we all know, Michael Macco talks a lot and probably sends out more motions to dismiss.  His phone bill and postage expense was much more: $35,456 compared to Marianne DeRosa’s at $22,647.
The total cost to run Marianne DeRosa’s office in 2008 was $1,007,605, whereas the office cost for Michael Macco was $760,525.
 Which trustee had the most cases dismissed in 2008?
Chapter 13 trustees bring many motions to dismiss, and many of them are successful.  In 2008, Marianne DeRosa had 1,275 of her cases dismissed prior to confirmation and 219 dismissed post-confirmation.  Michael Macco had 1,131 cases dismissed prior to confirmation and 260 dismissed post-confirmation.
How many debtors actually completed their plans? 
With Michael Macco as trustee, there were 170 cases with completed plans in 2008.  However, Marianne DeRosa had a much higher success rate for the year – 250 cases.
How much money did the trustees take in?
During 2008, Marianne DeRosa took in a total of $13,108,881, whereas Michael Macco took in $11,449,324.
How much did the trustees pay out in attorney’s fees?
This may come as a surprise to many.  Michael Macco paid out the higher amount – $946,588 to Marianne DeRosa’s 715,265.
What was the actual commission amount?
Although all plans provide for a 10% commission to the trustee, the actual amount is based on what the trustee’s expenses actually were.  With both trustees, this amount was 9.7%.
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Rate of National Bankruptcy Filings Now Over One Million a Year

Posted on Monday (March 30, 2009) at 12:00 pm to Bankruptcy and Society
Bankruptcy Statistics

Bankruptcy filings across the country have steadily risen to the point that more there are now more than one million bankruptcy filers per twelve-month period.

Written by Craig D. Robins, Esq.

A few weeks ago I wrote that bankruptcy filings across the country rose 31 percent in 2008.  (Bankruptcy Filings Surged in 2008).

The number of bankruptcies filed in the twelve-month period ending December 31, 2008, totaled 1,117,771, up from 850,912 bankruptcies filed in 2007.

Filings are now averaging well over one million per year.  Here we have a chart that shows how the numbers are steadily increasing.

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About Us

Craig D. Robins, Esq. is a Long Island bankruptcy lawyer, who is focused primarily on helping individuals and families, find solutions to their debt problems. Read more »


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Craig D. Robins, Esq.
35 Pinelawn Road, Suite 218E, Melville, NY 11747.

Tel : 516 - 496 - 0800