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Bankruptcies Up 14%

 
 
 

Largest Single Year Increase Since New 2005 Bankruptcy Laws.

 
     
 
 

The US federal bankruptcy courts saw 1,596,355 cases filed in fiscal year 2010, a 13.8 percent increase over 2009 bankruptcy filings of 1,402,816. While non-business bankruptcy filings continued to rise in 2010, business filings dropped slightly for the first time since 2006.

 

Bankruptcy Filings Under All Chapters

In FY 2010, filings rose for most bankruptcy chapters:

  • Chapter 7 filings in FY 2010 totaled 1,146,511, up 15.9 percent from the 989,227 chapter 7 filings in FY 2009.
  • Chapter 11 filings fell 3.8 percent, decreasing from 14,745 in FY 2009 to 14,191 in FY 2010.
  • Chapter 13 filings rose 9.2 percent, from 398,210 in FY 2009 to 434,839 in FY 2010.
  • In FY 2010,chapter 12 filings totaled 707, up 45.2 percent from the 487 chapter 12 filings in FY 2009.