As the number of U.S. consumer bankruptcy filings have returned to earth in recent weeks, the industry has been busy digesting the impact of the surge in filings and what it will mean for credit card ABS. Last week, a team of experts assembled by Barclays Capital put forth some perspectives on what it all will mean for the sector.

As of last week, the number of filings for the year was 46% higher than year-to-date 2004, and 28% higher than 2004's total, according to Juliet Jones, a research strategist with Barclays and the host of a conference call. The surge in filings has begun a correspondent surge in chargeoffs from credit card trusts, but many sources have said credit card ABS trusts in general are well poised to absorb the surge.

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