Bankruptcy Filings Up Slightly in 2019
Washington – Bankruptcy filings increased slightly for the 12-month period ending Dec. 31, 2019, compared with cases for the year ending Dec. 31, 2018, according to statistics released by the Administrative Office of the U.S. Courts. It was the second straight quarter that bankruptcy filings rose, after annual declines lasting nearly a decade.
Annual bankruptcy filings totaled 774,940, compared with 773,418 cases in December 2018. That is an increase of 0.2%.
The level of filings is still 51% below the peak reached in 2010, during the aftermath of the Great Recession, 2007-2009. A national wave of bankruptcies that began in 2008 reached a peak in the year ending September 2010, when nearly 1.6 million bankruptcy cases were filed.
The year 2019 had 22,780 business and 752,160 nonbusiness bankruptcies, a slight increase in both categories.
There were 483,988 Chapter 7 bankruptcies in 2019, up from 475,575 in 2018. There were 6,808 Chapter 11 bankruptcies in 2019, down from 7,095. There were 595 Chapter 12 bankruptcies, up from 498. And there were 283,413 Chapter 13 bankruptcies, down from 290,146.
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