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Total Number of Bankruptcy Filings Hits Lowest Number Since 2007

Sharon Edmondson, Washington Legislative Team Member | August 07, 2015

The AOUSC released its bankruptcy report on July 28, showing that bankruptcy filings continued to fall.

Bankruptcy filings for the 12-month period ending on June 30, 2015 dropped 12 percent compared to the prior 12-month period. The total number of bankruptcies is the lowest total for a 12-month period since the economic collapse of 2008. The 879,736 total bankruptcies is the first time the total has dipped below 900,000 since the 12-month period preceding December 2007.

Breakdown by Chapter

The number of bankruptcies filed by Bankruptcy Code chapter ending June 30 are as follows:

  • Chapter 7 (consumer liquidations) filings totaled 568,679, down from 669,976 the previous year.

  • Chapter 11 (reorganizations) filings totaled 6,672, down from 8,347 the precious year.

  • Chapter 13 (consumer reorganizations) filings totaled 303,945, down from 321,278 the previous year

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