Tag Archives: decline

Bankruptcy Filings Continue to Go Down

The Administrative Office of the U.S.  Courts just released its latest figures on bankruptcy filings.  For the 12-month period ending June 30, 2012, the number of bankruptcy petitions decreased by 14%.  The total number of personal (non-business) bankruptcies filed during this period, however, is nothing to sniff at:  1,267,167.

You can find more detailed tables of bankruptcy filings in the past year  at the website off the U.S. Courts.

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.

Bankruptcy Filings Continue to Decline in 2011

The American Bankruptcy Institute recently released a report on bankruptcy filings in the United States in July, 2011.  The filings for July were down a whopping 18% as compared to July 2010. This continues a trend that has persisted for the last six months — month-by-month the bankruptcy filings for 2011 are lower than those for 2010.

Experts disagree on the reasons for this decline, but the ABI Executive Director, Samuel Gerdano, attributes it to the “deleveraging of household debts and tightening of consumer credit.”