April Bankruptcy Filings Fall 16 Percent from 2011 Commercial Filings Drop 25 Percent
May 3, 2012, Alexandria, Va.— Total bankruptcy filings in the United States for April 2012 decreased 16 percent compared to the previous year, according to data provided by Epiq Systems, Inc. April bankruptcy filings totaled 108,865, down from the 129,815 filings registered in April 2011. Total commercial filings for April 2012 were 5,132, representing a 25 percent decrease from the 6,868 filings during the same period in 2011. The 103,733 total noncommercial filings for April represented a 16 percent drop from the April 2011 noncommercial filing total of 122,947.
“Families and business continue to cut costs to improve their financial stability,” said ABI Executive Director Samuel J. Gerdano. “As consumers and business remain committed to bolstering their balance sheets, bankruptcy filing rates will continue to decrease.”
The April total bankruptcy filings also decreased 11 percent from the March total of 122,155. Commercial filings dropped 9 percent in April from the March total of 5,668, and noncommercial filings dropped 11 percent from the March total of 116,487.
Changes to total commercial chapter 11 filings also decreased in April. Overall, the April total commercial chapter 11 filing total of 657 represented an 18 percent decrease over April 2011’s total of 800 and a decrease of 3 percent from the March 2012 total of 680.
The average nationwide per capita bankruptcy-filing rate for the first four calendar months of 2012 (Jan. 1-April 30) increased to 4.10 (total filings per 1,000 per population) from the 4.06 rate for the first three months of the year, and the average total filings per day in April 2012 registered 3,629, a 16 percent decrease from the 4,327 total filings in April 2011. States with the highest per capita filing rate through the first four months of 2012 were:
1. Nevada (7.04)
2. Tennessee (7.04)
3. Georgia (6.62)
4. Utah (6.02)
5. Alabama (5.84)
ABI has partnered with Epiq Systems, Inc. in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq Systems is a leading provider of managed technology for the global legal profession. Epiq Systems is a leading provider of managed technology for the global legal profession.
For further information about the statistics or additional requests, please contact ABI Public Affairs Manager John Hartgen at 703-894-5935 or [email protected]
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 13,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.
Epiq Systems is a leading provider of managed technology for the global legal profession. Epiq Systems offers innovative technology solutions for electronic discovery, document review, legal notification, claims administration and controlled disbursement of funds. Epiq System’s clients include leading law firms, corporate legal departments, bankruptcy trustees, government agencies, mortgage processors, financial institutions, and other professional advisors who require innovative technology, responsive service and deep subject-matter expertise. For more information on Epiq Systems, Inc., please visit http://www.epiqsystems.com.