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You are here: Home / Bankruptcy / Chapter 13 Bankruptcy / Bankruptcy Filings Rise 16.2 Percent | Warren & Migliaccio
Bankruptcy Filings Rise 16.2 Percent | Warren & Migliaccio

Bankruptcy Filings Rise 16.2 Percent | Warren & Migliaccio

July 25, 2024
Written by Christopher Migliaccio

Personal and business bankruptcy filings rose 16.2 percent in the twelve-month period ending June 30, 2024, compared with the previous year. 

According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 486,613 in the year ending June 2024, compared with 418,724 cases in the previous year.

Business filings rose 40.3 percent, from 15,724 to 22,060 in the year ending June 30, 2024. Non-business bankruptcy filings rose 15.3 percent to 464,553, compared with 403,000 in the previous year.

Bankruptcy totals for the previous 12 months are reported four times annually. For more than a decade, total filings fell steadily, from a high of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022. Total filings have increased each quarter since then, but they remain far lower than historical highs.

Business and Non-Business Filings,
Years Ending
June 30, 2020-2024

Year Business Non-Business Total
2024 22,060 464,553 486,613
2023 15,724 403,000 418,724
2022 12,748 367,886 380,634
2021 18,511 443,798 462,309
2020 22,482 659,881 682,363
Total Bankruptcy Filings By Chapter,
Years Ending
June 30, 2020-2024

Year Chapter
  7 11 12 13
2024 284,975 8,717 181 192,421
2023 239,125 5,986 147 173,362
2022 239,750 4,429 201 136,169
2021 335,886 6,871 438 118,864
2020 436,919 7,568 589 237,099

The following bankruptcy filings statistics tables are available: 

  • Business and non-business bankruptcy filings for the 12-month period ending June 30, 2024 (Table F-2, 12-Month),
  • A comparison of 12-month data ending June 2023 and June 2024 (Table F),
  • Second quarter filings, (Table F-2, 3 Month); and filings by month (Table F-2, April, May, June),
  • Bankruptcy filings by county (Table F-5A).

For more on bankruptcy and its chapters, view the following resources:

(source)

Categories: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy Tagged: Bankruptcy

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Christopher Migliaccio, attorney in Dallas, Texas
About the Author

Christopher Migliaccio is an attorney and a Co-Founding Partner of the law firm of Warren & Migliaccio, L.L.P. Chris is a native of New Jersey and landed in Texas after graduating from the Thomas M. Cooley School of Law in Lansing, Michigan. Chris has experience with personal bankruptcy, estate planning, family law, divorce, child custody, debt relief lawsuits, and personal injury. If you have any questions about this article, you can contact Chris by clicking here.

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