The number of consumers who resorted to bankruptcy last month was reduced on a month-over-month and year-over-year basis.
Consumers and businesses filed 69,286 new bankruptcy cases in May,
retreating from the 77,919 filings made the prior month.
The decline was even bigger compared to the same month last year, when U.S. Bankruptcy Courts were hit with 85,711 new filings.
The American Bankruptcy
Institute provided the statistics.
There were 2.73 bankruptcy filings filed for each thousand in population.
May’s per-capita rate was highest in Tennessee, where 5.61 filings were made per 1,000 people. Alabama’s 5.18 rate followed, then
4.85 in Georgia, 4.56 in Illinois and 4.34 in Utah.
Non-commercial filings made up 66,771 of May 2015’s total bankruptcies, falling from 75,299 a month earlier.
A year earlier, consumer filings totaled 82,473.
From Jan. 1 through May 31, consumer bankruptcies totaled
340,356 filings.
