U.S. Courts press release: “In the 12-month period ending March 31, 2007, 695,575 bankruptcy cases were filed in federal courts, according to statistics released today by the Administrative Office of the U.S. Courts. Compared to filings in the 12-month period ending March 31, 2006, when bankruptcy cases totaled 1,794,795, this was a 61 percent drop in filings. The 12-month period ending March 31, 2006, included the surge in filings that occurred prior to the October 17, 2005, implementation date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).”