According to the AOUSC, the total number of bankruptcy filings for Chapter 11 for the 12-month period ending March 31 increased compared to the same period last year, but filings for Chapter 7 and 13 decreased. Total bankruptcy filings for the 12-month period ending March 31, fell 8.5 percent compared to filings for the same period ending March 31, 2015. The March 2016 annual bankruptcy filings totaled 833,515, compared with 911,086 cases in the year ending March 2015.
Breakdown by Chapter:
Chapter 7 filings totaled 523,394, down from 596,867 in the previous year;
Chapter 11 filings total 7,380, an increase form 7,053 in the previous year; and
Chapter 13 filings totaled 302,193, down from 306,729 in the previous year.