Personal Bankruptcies Decline in January

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Bankruptcy filings have remained stable in the last three years, since filings climbed in the aftermath of the recession and declined sharply for five years during the recession. Last year, there was a total of 1,746 bankruptcy filings – an average of 145.5 a month, a 4.2 percent decline from the 1,823 – 152 a month – filed in 2017.

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The number of Americans filing for personal bankruptcy rose by nearly. in 50 households declared bankruptcy in 2009 between January and.

The Congressional Budget office (cbo) analyzed the 75 percent increase in personal bankruptcy filings between 1994 and 1998 by reviewing the “voluminous” literature on personal bankruptcy in a.

Although courts never ask people to declare why they’re filing, many bankruptcy and legal experts agree that medical bills had been a leading cause of personal bankruptcy. get health.

But after hitting record levels in 2005 (paywall), personal bankruptcy filings are are now in their twelfth straight year of decline. US federal court records show a 50% drop since 2010 from 1.5 million to 766,00 last year with no signs of abating. Isolating the reasons remains difficult.

They’d been hanging on by their teeth, with bankruptcy filings consistently declining since 2010. But that ended in November 2016. In December, bankruptcy filings rose 4.5% from a year earlier. In January they rose 5.4%. It was the first time consumer bankruptcies rose back-to-back since 2010.

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 · Personal bankruptcy filings fell from more than 1.5 million in 2010 to 770,846 last year. The publication acknowledges that several factors have contributed to the decline, particularly 2005.

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Bankruptcies are on the decline in Georgia, but the Peach State continues to hang onto its position.. Jan 13, 2016. By. When a small business fails, that often drives an individual into bankruptcy, he said, to deal with the business- related.

Since Quorum Health Resources took over Springfield Hospital in January, the hospital. Chapter 11 bankruptcy bears similarities to Chapter 13 bankruptcy, but Chapter 13 is typically for personal.