News: General News

Total Bankruptcy Filings Decreased 2 Percent in 2018; Commercial Chapter 11s Dipped 5 Percent ​

Saturday, January 12, 2019  
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Total bankruptcy filings during calendar year 2018 decreased 2 percent from 2017, according to data from American Bankruptcy Institute and Epiq Systems Inc. Total filings fell from 766,761 in 2017 to 755,182 filings during calendar year 2018. Total consumer filings also decreased to 717,360 nationwide for calendar year 2018, 2 percent less than the 728,299 total filings during 2017. 

 

The 37,822 total commercial filings during calendar year 2018 also slipped 2 percent from the commercial filing total of 38,462 during calendar year 2017. The commercial chapter 11 filing total of 5,470 during calendar year 2018 represented a 5 percent drop from the 5,762 commercial chapter 11 filings in 2017. 

 

“Total filings fell for the ninth consecutive year as high filing costs continue to weigh on struggling businesses and families,” said ABI Executive Director Samuel J. Gerdano. 

 

Monthly commercial chapter 11 filings dropped sharply year-over-year. The 453 commercial chapter 11 filings in December 2018 were a 36 percent decrease over the 703 filings in December 2017. The 2,893 total commercial filings in December 2018 represented a 6 percent decrease from the 3,072 total commercial filings during the same period in 2017.

 

Total bankruptcy filings for the month of December dropped 1 percent to 52,020 from the 52,545 filings in December 2017. The 49,127 total noncommercial filings for December also represented a 1 percent decrease from the December 2017 noncommercial filing total of 49,473.