Bankruptcy Filings Cool Off During the Early Summer Heat:
Total Filings Increase by 6.6 Percent, But Chapter 11 Cases Skyrocket
In June 2024, total bankruptcy filings reached 40,277, marking a 6.6% increase from last June. This modest rise is a slowdown compared to the larger increases we've seen over the past year. However, Chapter 11 cases surged by 83.2%, and SubChapter V cases rose by 79.8%, reflecting ongoing economic trends and the impact of recent changes in debt eligibility limits for SubChapter V.
Our monthly report now includes filing projections produced by the Department of Justice, as well as 2024 filing trends compared to pre-pandemic averages.
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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.