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2010 Bankruptcy Filings Up 14%

By Brett Weiss, Maryland Bankruptcy Attorney

According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 to 1,596,355, an increase of 13.8%.

Chapter 11 (business and large individual) filings decreased, from 14,745 to 14,191, a 3.8% drop. Business filings overall also went down, from 58,721 last year to 58,322 this year, a 0.7% decrease.

Non-business filings went up under all other chapters of the Bankruptcy Code, rising from 1,344,095 to 1,538,033, or 14.4%.

The full set of statistics may be found at: http://www.uscourts.gov/News/NewsView/10-11-08/Bankruptcy_Filings_Up_Nearly_14_Percent_over_Last_Fiscal_Year.aspx

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Full post as published by Bankruptcy Law Network on November 11, 2010 (boomark / email).