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February 07, 2012
Bankruptcy filings in the federal courts fell 11.5 percent in calendar year 2011, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the twelve-month period ending December 31, 2011, totaled 1,410,653, down from 1,593,081 bankruptcies filed in CY 2010.
An historic high in the number of bankruptcy filings was seen in CY 2005, when over 2 million bankruptcies were filed. Although filings dropped in CY2006, the first full 12-month period after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect, they have grown steadily every year since. CY 2011 is the first calendar year to show a decrease in total filings since 2006.
Business and Non-business Filings
CY 2007-2011
Year Business Non-Business Total
2011 47,806 1,362,847 1,410,653
2010 56,282 1,536,799 1,593,081
2009 60,837 1,412,838 1,473,675
2008 43,533 1,074,108 1,117,641
2007 28,322 822,590 850,912
read more News Item > Bankruptcy Filings Slide in Calendar Year 2011
Bankruptcy filings in the federal courts fell 11.5 percent in calendar year 2011, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the twelve-month period ending December 31, 2011, totaled 1,410,653, down from 1,593,081 bankruptcies filed in CY 2010.
An historic high in the number of bankruptcy filings was seen in CY 2005, when over 2 million bankruptcies were filed. Although filings dropped in CY2006, the first full 12-month period after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect, they have grown steadily every year since. CY 2011 is the first calendar year to show a decrease in total filings since 2006.
Business and Non-business Filings
CY 2007-2011
Year Business Non-Business Total
2011 47,806 1,362,847 1,410,653
2010 56,282 1,536,799 1,593,081
2009 60,837 1,412,838 1,473,675
2008 43,533 1,074,108 1,117,641
2007 28,322 822,590 850,912
read more News Item > Bankruptcy Filings Slide in Calendar Year 2011