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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.

 


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