December 1, 2013

Bankruptcy filings for the twelve month period ending March 31, 2013, fell 14.4 percent when compared to bankruptcy filings for the 12-month period ending March 31, 2012, according to statistics released by the Administrative Office of the U.S. Courts. March 2012 bankruptcy filings totaled 1,170,324, compared to 1,367,006 bankruptcy cases filed in the 12-month period ending March 31, 2012.

Similarly, bankruptcy filings in New Jersey are down 19% during the same time period.

Total Bankruptcy Filings by

Bankruptcy Chapter
Years Ended March 31, 2008-2013

Chapter

Year

7

11

12

13

2013

804,885

9,811

463

355,081

2012

958,757

11,339

606

396,175

2011

1,118,481

13,051

743

438,788

2010

1,100,032

15,251

605

415,966

2009

819,304

11,774

367

370,836

2008

560,015

6,971

343

334,551

Does that mean that the economy is improving?

Time will tell……Keep in mind that these are stats only through March 2013.

 

Year

Total

Non-Business

Business

2013

1,170,324

1,132,772

37,552

2012

1,367,006

1,320,613

46,393

2011

1,571,183

1,516,971

54,212

2010

1,531,997

1,470,849

61,148

2009

1,202,395

1,153,318

49,077