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Monthly Bankruptcy Filings Mixed

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While there was a month-over-month decline in national bankruptcy filings made by consumer debtors, deterioration was recorded on a year-over-year basis.

Commercial and non-commercial bankruptcy filings
numbered 65,511 during November. Activity eased compared to October, when 70,221 filings were made.

But businesses and consumers resorted to bankruptcy in greater numbers compared to November 2014, when U.S. Bankruptcy Courts fielded 62,438 new filings.

The details were reported Thursday by the American Bankruptcy Institute, a 12,000-member trade group consisting of attorneys, bankers and lenders as well as judges, professors and other bankruptcy professionals.

“Amid persistently low interest rates and high filing costs, total bankruptcies remain on track for the second-lowest total since BAPCPA was implemented in 2005,” ABI Executive Director Samuel J. Gerdano stated in the report.

Last month’s
average per-capita rate was 2.69 total filings nationally per thousand in population.

A 5.80 per-capita rate in Tennessee was the highest of any state. Alabama’s 5.41 followed, then Georgia’s 5.10, Illinois’ 4.42 and Utah’s 4.39.

Consumers were responsible for 63,223 of the national filings made in November 2015.

Non-commercial filings
slowed from 67,744 a month earlier but accelerated from 60,164 a year earlier.

From Jan. 1 through Nov. 30 of this year, non-commercial filings amounted to 738,045.

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