Bankruptcy filings for the 12-month period ending September 30 totaled 1,107,699. That is down 12% from the 1,261,140 bankruptcy cases that were filed last year. The number of filings that were non-business totaled 1,072,807. Chapter 7 filings totaled 753,995 while Chapter 13 filings totaled 343,651.
National and Jurisdictional Bankruptcy Statistics
The continuing decrease in bankruptcy filings for each 3-month period of 2013 is evident below but there appears to have been an increase for the 3 months ending June 30:
A breakdown by type of bankruptcy shows the following decline in filings with an increase for the 3 months ending June 30 and a slight increase in Chapter 13 filings between July 1 and September 30:
For the 12-month period ending September 30, 2013, the top three bankruptcy courts with the most bankruptcy filings were:
- 9th Circuit (includes Arizona, California, Nevada) with 237,750 filings
- 11th Circuit (includes Alabama, Florida, Georgia) with 165,906 filings
- 6th Circuit (includes Ohio, Michigan, Tennessee) with 154,309 filings
Each of these Circuit Courts had declines in bankruptcy filings compared to last year with 9th Circuit filings decreasing by 22.2%, 11th Circuit filings decreasing by 7.8%, and 6th Circuit filings decreasing by 8.6%.
The districts within the above Circuit Courts with the most bankruptcy filings were the Central District of California (82,861), the Northern District of Illinois (56,300), and the Middle District of Florida (42,512).
The up and down nature of bankruptcy filings can be seen in the following month-by-month total filing numbers:
No one knows if the upcoming holiday season will result in more over-spending and an increase in bankruptcy filings at the end of the year or the beginning of the New Year. Perhaps you are considering filing for bankruptcy if managing your debts has become difficult. You can start over financially after having your debts discharged in bankruptcy. To learn more about the basics of the bankruptcy process and to learn what your best options are based on your unique financial sitaution, contact our Augusta, GA office for more information. One important thing that you must do before filing for bankruptcy is to complete the required Credit Counseling Course.
Already filed for bankruptcy but haven’t completed your case? You must complete the required Debtor Education Course before the bankruptcy court will discharge your debts.