Bankruptcy Filings for 12 Month Ending March 31, 2015 Down 12 Percent
Sharon Edmondson, Washington Legislative Team Member | June 10, 2015
According to a report issued by the AOUSC, bankruptcy filings for the 12-month period ending March 31, 2015 fell 12 percent compared to filings for the 12-month period ending March 31, 2014. The AOUSC reported the March 2015 bankruptcy filings totaled 911,086 compared to 1,038,280 for the same period in March of 2014. The majority of the filings involved non-business debts with a total of 884,956 down from 1,006,609 in the previous year.
Breakdown by Chapter
The number of bankruptcies filed by Bankruptcy Code chapters ending March 31 is 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.