FIND A CLLA PROFESSIONAL | COMMERCIAL LAW WORLD MAGAZINE | MEMBER LOGIN | EVENTS | CONTACT US | LOG OUT
Dedicated to providing expertise, in-sights, and results to: Bankruptcy Attorneys, Credit and Collection Professionals & Alliance Partners

CLLA NEWSWIRE | FROM THE CLLA NEWSWIRE

Bankruptcy Filings Down 13 Percent In 2012

David Goch, Washington Legislative Counsel | February 12, 2013

Bankruptcy cases filed in the federal courts fell 13 percent in calendar year 2012, according to a report released Feb. 4 by the Administrative Office of the U.S. Courts.  

The number of bankruptcy cases filed in the 12-month period ending Dec. 31, 2012, totaled 1,221,091, down from the 1,410,653 bankruptcies filed in 2011.

In 2012, bankruptcy filings fell for the following chapters: 15 percent for Chapter 7 filings, 10 percent for Chapter 11 filings and 10 percent for Chapter 13 filings.

The number of bankruptcies filed in the 12-month period ending Dec. 31, 2012, totaled 1,221,091, down from the 1,410,653 bankruptcies filed in calendar year 2011.

The majority of bankruptcy filings involve non-business debts. In 2012, non-business bankruptcy filings totaled 1,181,016, down 13 percent from the 1,362,847 non-business bankruptcy filings in 2011.

In 2012, filings fell under the following chapters of the Bankruptcy Code:

  • Chapter 7 filings totaled 843,545, down 15 percent from the 992,332 filings reported in calendar year 2011.
  • Chapter 11 filings fell 10 percent to 10,361, from the 11,529 filings in 2011.
  •  Chapter 13 filings fell 10 percent to 366,532, from the 406,084 filings in 2011.

Full text of the AOUSC's news release with the bankruptcy filing data is available at http://news.uscourts.gov/bankruptcy-filings-decline-calendar-year-2012.

 


More From the CLLA Newswire

BREAKING: High Court Strengthens Bankruptcy Court Jurisdiction

Bankruptcy Filings for Period Ending March 31, 2015

Dems Offer Another Senate bill Seeking to Aid Employees

Cybercrime at Law Firms Triggers Ethical Duties to Report Hacking

FTC With NY AG and CFPB Plans Kickoff of Debt Collection Dialogues

Supreme Court Action on Bankruptcy Forms

CLLA Update GAO Report on Financial Company Bankruptcies

CLLA Update CFPB Will Allow Consumers to Disclose Personal Narratives in Complaints

Identity Theft Continues to Dominate FTC's Top 10 Consumer Complaints in 2014

CLLA Update White House to Review Bankruptcy Opiton for Student Loans

SEARCH NEWS ARCHIVES