Chris Lundquist, Founder of Lundquist Consulting, Inc., has over 17 years of experience in the bankruptcy industry, publishing high quality statistics and performing qualitative and quantitative studies on the subject. Lundquist Consulting statistics are quoted in research papers and media articles as well as used by government entities for policy planning and legislative support papers. Regarding the current filing rates, Mr. Lundquist stated, "Bankruptcy filings continue to be lower than historical levels, but the continued increase, especially in Chapter 7 filings, indicate a slow return towards these historical levels."
All regions show continued growth in filings in the second quarter of 2007. The Mountain region showed the greatest percentage of growth in filings for quarter two 2007 at 23.9 percent, whereas the area of least growth was seen in the South (West) at 5.2 percent. We do note that the Pacific region showed a smaller growth in quarter two than in quarter one of 2007. The largest volume of second quarter 2007 filings occurred in California at 16,251 filings, followed by Ohio at 13,401 and Georgia at 11,246.