Bankruptcies Rise for 19th Month

The trend of rising bankruptcy filings continues, with Epiq Bankruptcy reporting a 22% year-over-year increase in total filings in February. This marks 19 consecutive months of growth in both individual and commercial bankruptcies. Epiq predicts this momentum will continue, as filings move towards pre-pandemic levels. Individual bankruptcy filings saw a 21% increase, with substantial growth in Chapter 7 and Chapter 13 filings. Commercial Chapter 11 filings skyrocketed by 118% in February. Bankruptcy remains a vital option for individuals and businesses seeking financial relief in the current economic climate. The American Bankruptcy Institute stresses the importance of maintaining access to this resource, particularly for small businesses. Sequentially, total bankruptcies and consumer filings increased over January’s numbers. Epiq and ABI continue to provide up-to-date bankruptcy data for analysis and reporting.

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