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Nation Sees Decrease in Bankruptcy Filings

DS-News-Sponsored-Post-300x47The number of bankruptcy filings nationally dropped by 46 percent in January, compared to December, but up 5 percent from a year earlier, according to the January 2017 Bankruptcy Trends report by Epiq Systems. The year-over-year bump follows a reversal of trends that closed 2016, when national bankruptcy filings were also up 6 percent year-over-year for the first time in half a decade.

According to Epiq’s AACER bankruptcy data, there were 54,574 filings overall in January, down from December’s 56,394, but still up from November’s 53,844 filings.

The average number of filings per capita nationally was 2.13 per 10,000 people, down 0.35 percent from December.

Alabama and Tennessee again finished first and second in the number of filings per capita. Alabama filed 5.43 bankruptcies per 10,000. The number was, however, 0.06 percent lower than in December. Tennessee filed 5.08. bankruptcies per 10,000, down half a percent from December.

California had the most overall filings in January, with 5,253, which was 0.01 percent down from December. Illinois and Georgia followed in second and third place for cumulative filings: 3,674 and 3,521, respectively. Florida filed 3,370. Ohio and Texas were the only other states to file more than 2,400 bankruptcies last month.

No states posted an increase in filings in January compared to December. Indiana’s filings went down most, month-to-month. In January, Indiana filed 1,298 bankruptcies, which was down 1.23 percent from December. Idaho and Utah also saw 1 percent-plus drops from December. Idaho’s 172 filings were 1.09 percent lower, while Utah’s 703 filings were down a similar 1.06 percent.

Epiq Systems is a leading global provider of technology-enabled solutions for electronic discovery, bankruptcy and class action administration. Top legal professionals depend on us for deep subject-matter expertise and years of firsthand experience working on many of the largest, most high-profile and complex client engagements. Epiq Systems, Inc. has locations in the United States, Europe and Asia.

 

About Author: Scott Morgan

Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He's been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing.
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