CLLA Newswire | From the CLLA Newswire
Share |



Total Number of Bankruptcy Filings Hits Lowest Number Since 2007

Sharon Edmondson, Washington Legislative Team Member | August 07, 2015

The AOUSC released its bankruptcy report on July 28, showing that bankruptcy filings continued to fall.

Bankruptcy filings for the 12-month period ending on June 30, 2015 dropped 12 percent compared to the prior 12-month period. The total number of bankruptcies is the lowest total for a 12-month period since the economic collapse of 2008. The 879,736 total bankruptcies is the first time the total has dipped below 900,000 since the 12-month period preceding December 2007.

Breakdown by Chapter

The number of bankruptcies filed by Bankruptcy Code chapter ending June 30 are as follows:

  • Chapter 7 (consumer liquidations) filings totaled 568,679, down from 669,976 the previous year.

  • Chapter 11 (reorganizations) filings totaled 6,672, down from 8,347 the precious year.

  • Chapter 13 (consumer reorganizations) filings totaled 303,945, down from 321,278 the previous year


Go back

    CONTACT

    Commercial Law League of America

    1000 N. Rand Rd., Suite 214
    Wauconda, IL 60084

    Phone: (312) 240-1400    |   Fax: (847) 526-3993

    info@clla.org

CONNECT