In the first half of 2014, there were 310,210 Chapter 7 Discharges. This reflects a 35% decline in Chapter 7 Discharges compared to the first half of 2012 which totaled 477,367.
PLEASE NOTE: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications.
The Top 10 States (by volume) represent 53.5% of the year to date total Chapter 7 Discharges.
PLEASE NOTE: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications.
In the first quarter of 2014, there were over 45,000 Consumer Bankruptcy Chapter 13 discharges. That number is up 19.4% from first quarter discharges in 2013 (38,000) and up 59.6% from first quarter 2012 (28,668).
PLEASE NOTE: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications.
Chapter 7 Filings increased slightly (1.4%) in February compared to January 2014. The number of Chapter 7 filings from February 2013 showed a significant decrease of over 11,000 (-18.2%) from February filings the year before. February 2014 numbers show the downward trend slowing as some 46,000 filings were processed last month compared to the 50,000 processed in February of 2013 representing a reduction of only 6.8%.
PLEASE NOTE: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications.
CFED (Corporation for Enterprise Development) released their 2014 Score Card Deep Five Report, a comprehensive evaluation of the relative financial security of the American public.
Results from the Score Card reflect that 56.3% of all US consumers do not qualify for credit at “prime” rates. With an average annual pay of only $40,309, consumers in the state of Mississippi account for the highest percentage of consumers with subprime credit at 69.1%.
Consumer debt, and not just wicked winter weather, is having a chilling effect on retail sales. Consumer debt rose by $241 billion in the fourth quarter of 2013, the largest period increase seen since the fall of 2007, according to a recent study by the Federal Reserve Bank of New York.
At the same time consumers were taking on more debt, retailers from Abercrombie and Fitch to Wal-Mart reported lackluster sales largely blamed on inclement weather and deflationary margins. Read more from this City Wire article from Kim Souza here.
Recently, we reviewed our company marketing statistics and trends from 2013. We found some exciting highlights that include:
Only 2 states showed an increase in Chapter 7 Filings for 2013. TN with +284 and WY with +46. Please note: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications
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