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.

 

Go back

More From the CLLA Newswire

Case Note Analysis of the Supreme Court Decision in Bullock v. BankChampaign

CLLA Update: California AG Sues JPMorgan, Alleges Abuse of Process on Debt Collection

View Photos From The Chicago Convention

Proposed Amendments to Bankruptcy Federal Rules Delivered to Congress by Supreme Court

Donate To Help Victims Of the Boston Marathon Bombing

New Claims Transfer Fee Starts May 1

IRS Requests Comments On Ch. 11 Notice

CFPB Issues Proposal to Begin Oversight of Non-bank Student Loan Services

Furthering Asbestos Claim Transparency (FACT) Act of 2013 Progresses

Call for Authors: LexisNexis Commercial Law and Practice Guide