Bankruptcy Filings for Period Ending March 31, 2015
Sharon Edmondson, Washington Legislative Team Member | May 13, 2015
According to bankruptcy statistics released by The Administrative Office of the US Courts for the period ending March 31, 2015 filings fell 12 percent compared to filings for the same period in 2014.
The majority of bankruptcy filings involve non-business debts. During the 12-month period ending March 31, non-business bankruptcy filings totaled 884,956, down from 1,006,609 non-business bankruptcy filings in the previous year.
Business filings during the 12-month period ending March 31 fell to 26,130, from 31,671 in the previous year.
Breakdown by Chapter
The number of bankruptcies filed by Bankruptcy Code chapters ending March 31 are as follows:
- Chapter 7 filings totaled 596,867, down from 699,982 in the previous year.
- Chapter 11 filings totaled 7,053, down from 8,564 in the previous year.
- Chapter 13 filings totaled 306,729, down from 329,256 in the previous year.