Bankruptcy Filings Way Down But Wait For It

Bankruptcy filings fell sharply for the 12-month period ending Dec. 31, 2020, despite a significant surge in unemployment-related to the coronavirus (COVID-19). Annual bankruptcy filings in the calendar year 2020 totaled 544,463, compared with 774,940 cases in 2019, according to statistics released by the Administrative Office of the U.S. Courts. That is a decrease of … Read more

Bankruptcy Attorneys Crying – Filings Reach Lowest Level Since 2006

During the 12-month period ending December 31, 2016, 794,960 cases were filed in federal bankruptcy courts, down from the 844,495 bankruptcy cases filed in calendar year 2015—a 5.9 percent drop in filings. This is the lowest number of bankruptcy filings for any calendar year since 2006, and the sixth consecutive calendar year that filings have … Read more

Consumers Shedding Problem Debt Less and Less

The latest round of bankruptcy filing numbers is out and it paints a picture many in the debt relief industry see firsthand, a decrease in demand for debt relief services. Since the debt relief industry fails to provide any specific numbers about consumer demand, the best measure we have is to use the U.S. Courts … Read more

Ut Oh, New Bankruptcy Estimates Out

Fitch Ratings, the global rating agency that proves banks with prospective credit opinions, research and data, is expecting a further decline in personal bankruptcy filings for 2012. That news only spells a lessened demand for other debt relief services like credit counseling and debt settlement. If consumers are not seeking protection under bankruptcy, historically, demand … Read more

Debt Relief Demand Continues to Drop. Bankruptcy Filings Slow.

The latest bankruptcy filing numbers are out. Unfortunately they do not spell opportunity for current debt relief providers of any tax status. The decline in demand by consumers for intervention services has dropped across the board. For me it’s just further evidence the pipeline for debt relief help is draining and without a new influx … Read more

College Grads More Likely to File for Bankruptcy

According to a new study from the Institute for Financial Literacy, the rate of bankruptcy filings among college graduates is increasing. One assumption is the burden student loans place on graduates is increasing at the same time that salaries and income opportunities is decreasing. While the study only tracked people through 2010, I’m sure the … Read more

Chapter 7 Bankruptcy Filings Up 25 Percent

Bankruptcy filings overall rose 20 percent in the 12-month period ending June 30, 2010, according to statistics released today by the Administrative Office of the U.S. Courts. A total of 1,572,597 bankruptcy cases were filed in federal courts in that period, compared to 1,306,315 bankruptcy cases filed in the 12-month period ending June 30, 2009. … Read more