Bankruptcy Stats

Debtors (outside of Bankruptcy) Pay Personal Loans First – Do You?

June 13, 2017

When we study the dynamics of debtors who do not have enough money to pay all creditors, it is interesting to note that personal loans were paid first.

The hierarchy that debtors pay their debts was found to be as follows:

  1. Personal Loans
  2. Auto Loans
  3. Mortgages
  4. Credit Cards

Continue reading…

Chapter 11 Bankruptcy Filings Jump 67% – Consumer Decrease

BK PicJune 6, 2016

Financial distress within a number of sectors, including energy and retail, has caused more businesses to file for bankruptcy.

  • Business Chapter 11 filings climbed 67%: 408 April 2015 climbed to 680 in April 2016
  • Consumer bankruptcy filings decrease –11%: 75,308 April 2015 down to 66,975 April 2016.

Continue reading…

Bankruptcy Stats – Filings by State: See If You Know the Answers

December 7, 2015

  1. Question:    In 2005, total bankruptcy filings exceed the number of birth in which 6 states?
  2. Question: What state had the highest number of bankruptcy case filings 24 of the Capturelast 25 years?
  3. Question: Which state had the highest bankruptcy filing rate relative to population 21 of the last 25 years?
  4. Question: Which state had the lowest bankruptcy filing rate relative to population 18 of the last 25 years?

Continue reading…

NJ – Foreclosures Up

September 28, 2015

  • August Foreclosure Rate in NJ is 1 in every 539 homes.
  • Change from July:  down 4%Bank Owned
  • Change from 2014:  up 3%
  • The annual change in Bank-Owned Properties is up 295%

Foreclosures which have eased in other states may only be peaking in New Jersey.   

Foreclosures had been crawling through the slow process in New Jersey.

The slow processing includes a state judiciary that has tried to hold lenders accountable for improper processing/robo signing.   Only Hawaii’s process is longer.

Banks are becoming owners of properties more and more……

Consumer Bankruptcy Petitions Down 12% – First 9 mos. 2014 v. 2013

December 18, 2014

According to the American Bankruptcy Institute and data supplied by Epiq Systems Inc. a total of 678,685 consumer bankruptcy petitions were filed during the first 9 months of 2014.

This represents a 12% decline from the 767,510 consumer bankruptcy petitions filed through the first 9 months of 2013. Continue reading…

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