Total bankruptcy filings increased in October on a yearly basis at a rate of 24%. Click through to read an analysis of the latest data. Could it prove an alarm bell for more widespread economic troubles ahead?
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“While still below pre-pandemic totals, bankruptcy filings continue to increase amid growing debt loads due to inflationary pressures and reduced availability of low-cost financing,” said ABI Executive Director Amy Quackenboss.
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“With inflation increasing the costs of goods and services, and with interest rates rising, families and businesses have been presented with tough financial decisions,” said ABI Executive Director Amy Quackenboss.
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According to Epiq Bankruptcy's latest market analysis, the total number of filings increased an overall 7% in September, while commercial Chapter 11 filings increased nearly 80% over the last year.
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