Bankruptcy Filings Decline in 2011

According to statistics released today, the total number of bankruptcies filed in 2011 was 11.5% lower than the number of bankruptcies filed in 2010. This is the first decrease in bankruptcy filings since 2006. (The 2006 decrease was widely attributed to the bankruptcy law overhaul of 2005.)

The total number of bankruptcies filed in 2011 was  1,410,653. Of those, 992,332 were Chapter 7 bankruptcies.

You can read more about the 2011 bankruptcy statistics on the U.S. Courts website, here.