Bankruptcy filing in US rise by 16.2 percent in 12 months

Admin I Thursday, November 07, 2024

 

WASHINGTON – Bankruptcy filings have risen in the United States, US, hitting 16.2 percent in the past 12 months period ending Sept. 30, 2024, compared with the previous year. 

According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 504,112 in the year ending September 2024, compared with 433,658 cases in the previous year.

Business filings according to the court rose 33.5 percent, from 17,051 to 22,762 in the year ending September 30, 2024.

Non-business bankruptcy filings rose 15.5 percent to 481,350, compared with 416,607 in the previous year.

Bankruptcy totals for the previous 12 months are reported four times annually.

For more than a decade, the US court said,  total filings fell steadily, from a high of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022.

Total filings have increased each quarter since then, but they remain far lower than historical highs.

Business and non-business bankruptcy filings for the 12-month period ending Sept. 30, 2024.