[1]Bankruptcy filings in June 2015 experienced only a slight month-over-month increase despite having two more filing days in June than in May, according to June 2015 AACER bankruptcy data [2] reported by Epiq Systems [3].
In June 2015, there were 69,723 total bankruptcy filings, an increase of only 412 (only about half of 1 percent) from May's total of 69,311, despite June having 22 filing days compared to 20 for May. June's total bankruptcy filings also represented a year-over-year decline of 4,132, or 5.5 percent.
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[4]
June's number of average filings per day (3,169) represented a decline of 8.5 percent from May's number (3,466). The lowest average filings per day total this year was in January (2,954). Cumulative filings for the first six months of the year totaled 422,782, an average of 70,463 per month.
Since June 2010, when 134,025 bankruptcy filings were reported for the month nationwide, the number of filings has declined steadily every June. The total number of filings for June 2015 (69,723) experienced a 47.9 percent decline from the peak total reached in June 2010.
Among states, California has the most cumulative filings for the first six months of 2015 with 42,948. The next closest state, Illinois, has more than 13,000 fewer at 29,105. Florida is a close third at 28,961, with Georgia and Ohio ranking fourth and fifth. In filings per capita (based on the population estimate dated July 1, 2009), Tennessee and Alabama ranked first and second in June, as they have every month this year, with 5.68 and 5.20 filings for every 10,000 people, respectively. There numbers represented slight increases from May's per capita averages of 5.61 and 5.18 for Tennessee and Alabama, respectively. The national average in bankruptcy filings per capita for June (2.72) was virtually unchanged from May (2.73).
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.