A modest reduction in the number of monthly bankruptcies that were filed by U.S. consumers left the pace of filings at its lowest level in five months.
A combined 62,196 new commercial and non-commercial cases were filed in the nation’s bankruptcy courts last month. It was the slowest month since February’s fewer than 57,000.
June’s bankruptcy filings numbered an upwardly revised 63,728. In July of last year, commercial and non-commercial bankruptcies were reported at an upwardly revised 61,433 new cases.
The American Bankruptcy Institute reported July’s statistics Monday.
With 2.49 total filings per thousand in population, the per-capita rate was off from 2.50 a month earlier.
Alabama’s 5.66 per-capita rate was the highest n the country. Tennessee’s 5.48 was next, then Georgia’s 4.52, Mississippi’s 4.27 and Illinois’ 3.77.
Non-commercial bankruptcies accounted for 59,128 of July 2018’s filings — also the fewest since February. The total fell from 60,677 a month earlier. But filings worsened from 58,511 in July 2017.
Consumer filings from Jan. 1, 2018 through July 31 amounted to 369,122.