Bankruptcy Filings Slide in Calendar Year 2011

by Sabrina I. Pacifici on February 14, 2012

News release: “Bankruptcy filings in the federal courts fell 11.5 percent in calendar year 2011, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the twelve-month period ending December 31, 2011, totaled 1,410,653, down from 1,593,081 bankruptcies filed in CY 2010. An historic high in the number of bankruptcy filings was seen in CY 2005, when over 2 million bankruptcies were filed. Although filings dropped in CY2006, the first full 12-month period after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect, they have grown steadily every year since. CY 2011 is the first calendar year to show a decrease in total filings since 2006. Statistics released today include business and non-business filings for the 12-month period ending December 31, 2011; a comparison of December 2010 and 2011 filings; 4th quarter filings; monthly filings for the 12-month period ending December 31, 2011 ; and filings per capita.”

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