News: NACM News

Bankruptcy Filings Register First Year-Over-Year Increase in Eight Years

Wednesday, January 8, 2020  
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After declining for eight consecutive years, total bankruptcy filings during calendar year 2019 (Jan. 1-Dec. 31) increased 0.28 percent from 2018, according to data provided by Epiq Systems Inc. and American Bankruptcy Institute. Total filings edged up to 757,497 in 2019 from 755,353 filings during calendar year 2018. 

The 38,944 total commercial filings during calendar year 2019 increased 2.4 percent from the commercial filing total of 38,032 during calendar year 2018. The commercial chapter 11 filing total of 5,502 during calendar year 2019 represented a 0.36 percent increase from the 5,482 commercial chapter 11 filings in 2018. Total consumer filings also increased to 718,553 nationwide for calendar year 2019 (Jan. 1-Dec. 31), 0.17 percent more than the 717,321 total filings during 2018. 

Total bankruptcy filings for the month of December increased 2 percent to 53,030 in 2019 from the 52,059 filings in December 2018. The 50,160 total noncommercial filings for December also represented a 2 percent increase from the December 2018 noncommercial filing total of 49,096. The 2,870 total commercial filings in December 2019 represented a 3 percent decrease from the 2,963 total commercial filings during the same period in 2018. Commercial chapter 11 filings dropped 14 percent to 391 in December 2019 from the 456 commercial chapter 11 filings in December 2018.

The average nationwide per capita bankruptcy filing rate for calendar year 2019 (Jan. 1-December 31) increased slightly to 2.44 (total filings per 1,000 population) from the 2.43 rate during calendar year 2019.