by Bill McBride on 11/07/2012 12:31:00 PM
Wednesday, November 07, 2012
From the US Court: Bankruptcy Filings Down in Fiscal Year 2012
Bankruptcy cases filed in federal courts for fiscal year 2012, the 12-month period ending September 30, 2012, totaled 1,261,140, down 14 percent from the 1,467,221 bankruptcy cases filed in FY 2011, according to statistics released today by the Administrative Office of the U.S. Courts.The number of filings for the quarter ending Sept 2012 were the lowest since 2008.
For the 12-month period ending September 30, 2012, business bankruptcy filings—those where the debtor is a corporation or partnership, or the debt is predominantly related to the operation of a business—totaled 42,008, down 16 percent from the 49,895 business filings reported in the 12-month period ending September 30, 2011.
Non-business bankruptcy filings totaled 1,219,132, down 14 percent from the 1,417,326 non-business bankruptcy filings in September 2011.
Click on graph for larger image.
This graph shows the business and non-business bankruptcy filings by year since 1987.
Note: The peal in 2005 was due to the so-called "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005". (a good example of Orwellian named legislation).
This is another indicator of less economic stress.
Posted by Bill McBride on 11/07/2012 12:31:00 PM