by Calculated Danger on 2/04/2025 04:40:00 PM
From the U.S. Courts: Chapter Filings Rise 14.2 P.c
Whole chapter filings rose 14.2 %, with will increase in each enterprise and non-business bankruptcies, within the twelve-month interval ending Dec. 31, 2024. This continues an ongoing rebound in filings after greater than a decade of sharply dropping totals.
In accordance with statistics launched by the Administrative Workplace of the U.S. Courts, annual chapter filings totaled 517,308 within the yr ending December 2024, in contrast with 452,990 circumstances within the earlier yr.
Enterprise filings rose 22.1 %, from 18,926 to 23,107, within the yr ending Dec. 31, 2024. Non-business chapter filings rose 13.9 % to 494,201, in contrast with 434,064 in December 2023.
Chapter totals for the earlier 12 months are reported 4 occasions yearly.
For greater than a decade, complete filings fell steadily, from a excessive of almost 1.6 million in September 2010 to a low of 380,634 in June 2022. Whole filings have elevated every quarter since then, however they stay far decrease than historic highs.
emphasis added
Click on on graph for bigger picture.
This graph exhibits the enterprise and non-business chapter filings by calendar yr since 1997.
The sharp decline in 2006 was because of the so-called “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005”.
2024 was the 4th lowest yr for chapter filings, and 33% beneath the pre-pandemic stage in 2019.
