Latest Business Data by U.S. Courts Shows 8% Rise in Federal Court Bankruptcy Filings in 2010
Washington, (News4us.com) March 15, 2011
Bankruptcy filings in the federal courts rose 8 percent in calendar year 2010, according to data released today by the Administrative Office of the U.S. Courts. Total filings remain at a five-year high.
The number of bankruptcies filed in the twelve-month period ending December 31, 2010, totaled 1,593,081, up from 1,473,675 bankruptcies filed in CY 2009.
Filings have grown steadily since CY 2006, when bankruptcy filings totaled 617,660, in the first full 12-month period after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect. An historic high in the number of bankruptcy filings was seen in CY 2005, when over 2 million bankruptcies were filed in anticipation of BAPCPA.
Statistics released today include business and non-business filings for the 12-month period ending December 31, 2010 (Table F-2, 12-month); a comparison of December 2009 and 2010 filings (Table F); 4th quarter filings (Table F-2, 3-month); monthly filings for the 12-month period ending December 31, 2010 (Table F-2, Year-Month); and filings per capita.
Business and Non-Business Filings
The majority of bankruptcy filings involve non-business debts. In CY 2010, they totaled 1,536,799, up 9 percent from the 1,412,838 non-business bankruptcy filings in CY 2009.
Business filings totaled 56,282, down 7 percent from the 60,837 business filings in CY 2009.
First Quarter of FY 2011
The last three months of CY 2010 were the first quarter of the Judiciary’s 2011 fiscal year. The number of bankruptcies filed during the first quarter of fiscal year 2011 (October 1-December 31, 2010) was 370,080, down 1 percent from the 372,203 filings in the first quarter of fiscal year 2010.
Filings by Chapter
In CY 2010, filings rose under Chapters 7, 11, 12 and 13 of the U.S. bankruptcy code.
- Chapter 7 filings totaled 1,139,601, up 8 percent from the 1,050,832 Chapter 7 filings reported in CY 2009.
- Chapter 11 filings fell 10 percent to 13,713 from the 15,189 filings in CY 2009.
- Chapter 13 filings rose 8 percent to 438,913 from the 406,962 filings in CY 2009.
- Chapter 12 filings totaled 723, up 33 percent from the 544 Chapter 12 bankruptcy filings in CY 2009.
For more on bankruptcy and its chapters, visit the Judiciary’s website or go to www.fjc.gov/federal/courts.nsf. Local bankruptcy court rules and historic data on bankruptcy filings are also available. Additional bankruptcy statistics, including bankruptcies by county, can be found on the Judiciary’s PACER system.
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