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 |
||||
|
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 |
