While the number of consumers who sought relief from their liabilities improved on a month-over-month basis, consumer bankruptcies turned higher from a year ago.
Including commercial and non-commercial filings, there were 60,287 new cases filed in U.S. Bankruptcy Court during the month of November.
Bankruptcies
declined from the preceding month’s upwardly revised 64,601. But an ascension was recorded from an upwardly revised 59,349 the same month in 2016.
Those details were reported Tuesday by the American Bankruptcy Institute.
Out of every thousand in U.S. population, an average of 2.51 bankruptcies have been filed during the first-11 months of the year.
In Alabama, the per-capita rate was 5.77 — higher than any other state. Next was Tennessee’s 5.60, then Georgia’s 4.72, Mississippi’s 4.20 and Utah’s 4.06.
Consumers were responsible for 57,302 of last month’s filings. Non-commercial bankruptcies tumbled from an upwardly revised 61,591 in October.
But the total inched up from an upwardly revised 56,394 in November 2016.
From Jan. 1 to Nov. 30 of this year, there have been 679,095 non-commercial bankruptcies filed.
“Ongoing efforts of the Commission on Consumer Bankruptcy are focused on removing barriers to filing for struggling businesses and families,” ABI Executive Director Samuel J. Gerdano stated in the report.
