According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings reached 486,613 for the year ending June 2024, up from 418,724 in the previous year.

Business-related filings saw a significant increase of 40.3%, rising from 15,724 to 22,060 as of June 30, 2024. Non-business bankruptcy filings also increased, going up by 15.3% to 464,553 compared to 403,000 in the prior year.

Bankruptcy totals are reported quarterly. Over the past decade, total filings steadily decreased from a peak of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022. However, filings have been on the rise each quarter since then, although they remain well below historic highs.

From US Courts-July 2024