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Total Commercial Chapter 11 Filings for April Drop 18.2% Y/Y

May 05, 2017, 07:20 AM
Filed Under: Bankruptcy

Total U.S. bankruptcy filings fell nearly 4 percent in April 2017 from the same period in 2016, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 67,670 in April, down 3.96 percent from the 70,457 filings reported in April 2016. The 64,323 total noncommercial filings recorded in April 2017 represented a 3.93 percent decrease from the April 2016 total of 66,957.

Total commercial filings for April 2017 were 3,303, representing a 5.14 percent decrease from the 3,482 filings during the same period in 2016. Total commercial chapter 11 filings showed the largest change, as the 556 filings in April 2017 represented an 18.24 percent drop from the 680 filings reported in April 2016.

“Bankruptcy filings continue to show volatility month to month and year over year, reflecting household financial pressures,” said ABI Executive Director Samuel J. Gerdano.

For the month of April 2017, the 67,670 total filings represented a 17.08 percent drop from the 81,610 filings recorded in March 2017. April 2017’s 64,323 total noncommercial filings represented a 17.42 percent decrease from the 77,890 noncommercial filings recorded in March 2017. Total commercial filings also fell, with April 2017’s 3,303 total commercial filings representing a 9.7 percent decrease from the March 2017 total of 3,658. Of those commercial filings, chapter 11 filings increased by 18.8 percent, from 468 filings in March 2017 to 556 filings in April 2017.

The average nationwide per capita bankruptcy filing rate in April 2017 was 2.54 (total filings per 1,000 per population), a slight increase from the 2.51 filing rate of the first three months of the year. States with the highest per capita filing rate (total filings per 1,000 population) in April 2017 were:

  1. Alabama (5.81)
  2. Tennessee (5.65)
  3. Georgia (4.73)
  4. Mississippi (4.16)
  5. Illinois (4.13)

ABI has partnered with Epiq Systems, Inc. in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq Systems is a leading provider of managed technology for the global legal profession.

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