A Snapshot of Bankruptcy Filers in 2016

Consumers filing for bankruptcy in 2016 reported aggregated assets of $72 billion and aggregated total liabilities of $191 billion, a decline from the previous year, according to an annual report filed by the Judiciary with Congress. The report, required by Congress under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, describes the activities … Read more

Bankruptcy Filings Decline in 2012

Bankruptcy filings in the federal courts fell 13 percent in calendar year 2012, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the 12-month period ending December 31, 2012, totaled 1,221,091, down from the 1,410,653 bankruptcies filed in CY 2011. Statistics released today include business … 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

Bankruptcy Filings Slow Heading Into 2011

The latest numbers out from the U.S. Courts shows that while 2010 was a record year for bankruptcy filings, post 2005 reform, 2011 is setting up to be a slower pace. During the last quarter of 2010, which is oddly the first quarter of 2011 for the Judiciary’s records, the number of bankruptcy filings was … Read more

Bankruptcy Filings Way Up. 73% File Chapter 7 Bankruptcy.

The latest year-on-year bankruptcy numbers are out and nobody should be surprised that bankruptcy filings are way up. In the year ending September 30, 2010 the number of Chapter 7 bankruptcy filings was up 14% and Chapter 13 bankruptcies were up 8%. – Source Chapter 7 bankruptcy cases account for 73% of all consumer bankruptcy … Read more