Bankruptcy Filings Decline By 2.2 Percent (10.31.18)

According to a report published on the US Court Government website on October 31, 2018, bankruptcy filings fell by 2.2 percent for the 12-month period ending September 30, 2018, compared with the year ending September 30, 2017.  The September 2018 annual bankruptcy filings totaled 773,375, compared with 790,830 cases in the previous year, according to statistics released by the Administrative Office of the U.S. Courts. The number of bankruptcy cases filed was the lowest for any 12-month period since the year ending June 2007. A national wave of bankruptcies that began in 2008 reached a peak in the year ending September 2010, when nearly 1.6 million bankruptcies were filed.

Total Bankruptcy Filings By Chapter

Year                                           Chapter

7                  11               12                       13

2018        477,248        7,014         468            288,550

2017        486,542       7,052         508            296,599

2016        498,367       7,450        458             299,150

2015        550,036      7,040        383             302,642

2014        642,366       7,658        372              313,262

Bankruptcy filings continued to decline and as of 2021 have hit a 36 year low. Not since 1985 have Chapter 7 and Chapter 13 filings been this low. The tsunami of bankruptcy rule did not materialize as the government propped enough people up through various funding and legislative policies.

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