November Bankruptcy Filings See Moderate 6% Increase
According to data supplied by AIS, November bankruptcy filings totaled 40,276, a moderate 6.26% increase from the same period last year. Chapter 7 filings accounted for 24,149 cases (+11.82% YoY), while Chapter 13 filings reached 15,314 (-0.69% YoY). Chapter 11s dipped slightly to 756., with 200 filed under Subchapter V. Total filings year-to-date are 33% below pre-Covid averages (Pre-Covid average consists of filings totals for 2016-2019).
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VIDEO: Recap and Analysis of November Filings Data
Compared to November 2023, chapter 7 filings rose by 11.82 percent, following a consistent pattern seen during most months over the past two years. Chapter 13 repayment cases fell by just 0.69 percent. This is the first decrease in chapter 13s since March 2023, but reflects a continued slowing in growth as chapter 7s have boomed upward. With many new federal regulators taking the helm in the New Year and with recent trends in the mix of bankruptcy cases, lenders may need to take a fresh look at distressed portfolios to see if any forecasts need to change along with the national political and economic environment. .
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AIS warrants that it employs all reasonable endeavours to ensure that the supplied statistical reports are substantially complete and free of errors or defects. The user acknowledges that all information contained herein is derived from public record data and from time to time, errors may occur. InSight is a proprietary analytical report produced monthly by AIS. The supplied information will not be disclosed, recompiled, sold or traded, in whole or in part, to third parties unless prior written consent is obtained. AIS assumes no responsibility or liability for any decisions made as a result of using this report.