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Illinois Bankruptcy Records

All Illinois Bankruptcy Records locations include Chicago, Rockford, Joliet, Lake Country, DuPage County and Kane County. Trustee meetings happen in Chicago in the Eastern division and Rockford in the Western Division. The vision of United States Bankruptcy Court Northern District of Illinois is to create a productive, learning organization built on trust and respect.

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An analysis of the Illinois Bankruptcy Records shows up important results. The total case filing (in the period from 1998 ? 2007) shows that it has reduced overall with an increase in the period from 2002-05. Bulks of these filings are Chapters 7 filings, which was more than all three combined filings of any year in this period in 2005. The rest are mostly Chapter 13 filings with a very small amount of Chapter 11 filings. The year 2006 saw the minimum filings overall, with 2005 having the most filings.

A total of 27,807 bankruptcy cases were filed in the Northern District of Illinois during 2007. This represents a 40% increase from the 19,907 filed in 2006. During 2007, the court closed 27, 143 cases, which is only 664 less than the number of bankruptcy cases opened during the year. A total of 2, 471 adversary proceedings were closed, 1,085 more than the 1,386 adversary proceedings that were opened.

A noticeable event is the rise in the electronics filing over the same period of 2003 ? 2007. The volume of e-filings as percentage of total increase from 0% in 2003 to 82% in 2007 and almost half (49%) of the cases filed in 2005 were through e-filings. The e-filings have seen a growth both in actual numbers and percentage of total over the years.

The number of filing and the percentage increase of filings in one year over the previous year tend to give cyclicality with periods of increasing filings followed by a period of reduced filings over the short span of years. This is evident from data that shows that the filings increased over the period 1998-2003 and then declined over the period 2004-2007. The major increase was in the year 1999 which saw a 1494% increase in filings over 1998. Chapter 9 and Chapter 12 filings are extremely rare in the period over the last one decade. 2007 and 2006 saw no filings done under Chapter 9 and 12, with only one cases a piece in 2005 under both the chapters. The bankruptcy filings did not seem to follow any seasonality within any particular year and was more closely correlated with the overall years' count and the overall cycles of few years taken together.

An analysis of the various Chapters of filing over the period from 1998-2007 reveals that irrespective of the cyclicality seen in periods of few yeas, Chapter 11 filings did not see much variation with a maximum of 27 (1999) and minimum of 6 (2006) filings done. Chapter 13 filings saw a slight increase in the period 2003-05 but the variation was not much strong with a maximum of 1418 filings (2004) and a minimum of 763 filings (2006). Chapter 7 filings enjoy the biggest share of the pie and show much stronger variations with a maximum of 6674 filings (2005) and a minimum of 1111 filings (2006).

In the recent times the filings has increased in numbers with 2007 seeing a n increase of 40% over 2006, 2008 seeing a increase of 44% over 2007 and 2009 (till June) shows an increasing numbers of filings as compared to the corresponding months in 2008. This can be attributed to the global economic meltdown and the slowing down of the economy, coupled with tight liquidity conditions and a general erosion of the buoyant business sentiments.

Interestingly enough, none of the months taken individually in the period 2007 July to June 2009 has shown any decrease in the number of bankruptcy filings over the corresponding months in the previous years. This might be expected to come out in future as the world economic condition gets a boost and is expected to stay till 2001 on the gross annual number of filings.

Chicago has seen a higher percentage of increase in filings over the previous years on the average than Rockford. Though all the three northern, southern and central district court receives high amount of bankruptcy cases through out the year, it is the northern district that counts the larger proportions. You can find thousands of records in Illinois Bankruptcy public records to find matching records for your watches and also perform background checks on individuals and businesses - quickly, easily, and affordably. If you are trying to find information on a person, a business, or a phone number that you know, it is easy to zero upon a particular record. Watching a company for bankruptcies is a great way to stay on top of your employer, a client, or a company you plan to do business with. Illinois Bankruptcy records serve a whole lot of purposes apart from providing the most current and accurate public record making people aware of bankruptcy laws and identify such entities.