The Real Deal Miami

South Florida bankruptcy surges

April 02, 2009 11:11AM

Personal bankruptcy hit a four-year peak in March, the highest number of filings since a federal overhaul of bankruptcy laws. Miami lawyer Patrick Cordero said people who’ve lost jobs in construction, mortgage brokerage, appraisal firms and other segments of the real estate industry are filing at higher rates. The state said 2,247 consumer bankruptcy filings in March were the most since 11,286 filings were recorded in October 2005 during a legal overhaul. That’s a 57 percent increase from the 1,426 filings in March 2008 and a 35 percent increase from February.