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BAPCPA Report Highlights

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2011 BAPCPA Report Highlights

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) requires the annual compilation of statistics on debtors who are individuals with primarily consumer debts seeking relief under chapters 7, 11, and 13.

Report Highlights

1.3 million debtors filing for personal bankruptcy in 2011. Compared to 2010, 2011 saw a:

  • 11% in drop in case filings,
  • 23% drop in filer assets,
  • 25% drop in filer liabilities,
  • 28% incidence of repeat filers.

Chapter 7

  • 70% of all non-business bankruptcies filed.
  • Down from 71% in 2010.

Chapter 13

  • 30% of all non-business bankruptcies filed.
  • Up from 28% in 2010.

Chapter 11

  • One-tenth of 1% of all non-business filings.

Liabilities of Consumer Debtors

Liabilities Reported by Individual Debtors in Cases With Predominantly Nonbusiness Debts Commenced During the 12 Month Periods Ending December 31, 2010 and 2011, as Required by 28 U.S.C. 159(c)

  • $280 billion: Total liabilities in the aggregate amount of consumer debtors in 2011.
    • 63% Liabilities categorized as secured claims.
    • 2% Unsecured priority claims.
    • 35% Unsecured non-priority claims.
  • Down 25% Excluding the liabilities of one chapter 11 debtor, total liabilities of debtors seeking consumer bankruptcy protection fell 25% over 2010.
Liabilities of Consumer Debtors in 2011 and 2010
Year Cases Liabilities Net Scheduled Debt (in $000s)
Total With Complete Schedules Total in ($000s) Secured Claims ($000s) Unsecured Claims ($000s) Unsecured Priority Claims ($000s)
2011 1,332,361 1,238,580 280,920,925 177,404,083 4,656,589 98,860,253 269,262,169
2010 1,504,569 1,412,150 473,782,263 323,193,232 4,702,939 145,886,091 459,262,091

Assets of Consumer Debtors

Assets Reported by Individual Debtors in Cases With Predominantly Nonbusiness Debts Commenced During the 12-Month Periods Ending December 31, 2010 and 2011, as Required by 28 U.S.C. 159(c)

  • $221 billion: Total assets of consumer debtors seeking bankruptcy protection under chapters 7, 11, or 13 during 2011.
  • 60% of assets reported were categorized as real property.
  • 40% of assets reported were personal property.
Assets Reported by Individual Debtors
Year Cases Assests
Total With Complete Schedules Total (in $000s) Real Property (in $000s) Personal Property (in $000s)
2011 1,332,361 1,238,580 221,390,853 133,874,808 87,516,045
2010 1,504,569 1,412,150 407,023,861 263,342,489 143,681,372

Income and Expenses

Income and Expenses Reported by Individual Debtors in Cases With Predominantly Nonbusiness Debts Commenced During the 12 ­Month Period Ending December 31, 2011, as Required by 28 U.S.C. 159(c)

  • $2,781: Median average monthly income reported by all debtors – 1% lower than 2010.
  • $2,837: Median average reported monthly expenses of debtors – 1% lower than in 2010.
Income and Expenses Reported by Individual Debtors
Cases Current Monthly Income Average Monthly Income Average Monthly Expenses
Total With Complete Schedules Median (in $s) Totals in ($000s) Median (in $s) Total in ($000s) Median (in $s) Total in ($000s)
1,332,361 1,243,900 3,016 4,281,400 2,781 4,189,561 2,837 4,177,524

Prior Filings Reported by Debtors Filing Under Chapter 13

Prior Filing Status Reported by Individual Debtors in Chapter 13 Cases With Predominantly Nonbusiness Debt Commenced During the 12 Month Period Ending December 31, 2011, as Required by 28 U.S.C. 159(c).

  • 28% Percent of the 398,096 cases in which debtors who sought protection under Chapter 13 in 2011, reported they had filed a bankruptcy petition during the previous 8 years.
  • 52% of debtors in the Western District of Tennessee reported prior filings.
  • 43% of debtors in the Eastern District of Arkansas reported prior filings.
  • Less than 10% of filers in the Districts of Guam, Vermont, and Alaska reported prior filings.
Prior Filings Reported by Debtors Filing Under Chapter 13
Total Prior Filing No Prior Filing Not Reported
398,096 110,426 287,666 4

Chapter 13 Cases Closed by Dismissal or Plan Completion

Chapter 13 Individual Debtor Cases With Predominantly Nonbusiness Debts Closed by Dismissal or Plan Completion During the 12 Month Period Ending December 31, 2011, as Required by 28 U.S.C. 159(c)

Of 239,793 chapter 13 consumer cases filed on or after October 17, 2006 and closed in 2011:

  • 185,820 were dismissed.
  • 53,577 or 22% were discharged after completing repayment plans, up from 14 % in 2010 and 6 % in 2009.
  • Nationwide, failure to make plan payments was cited in 48% of cases as the reason for dismissal, down from 49 % in 2010.
Chapter 13 Cases Closed by Dismissal or Plan Completion
Total Cases Closed Cases Cases in Which Plans Completed Cases Dismissed Cases Refiled After Dismissal
Total Modifications Made Prior to Plan Completion Total For Failure to Make Payments Under Plan
None One Two Three Four Five or More
239,793 53,577 45,104 6,345 1,480 454 133 61 185,820 88,645 20,089

Much of the data are self-reported by debtors when they submit forms, bankruptcy schedules, motions, agreements, and other filings to the court, and are not validated by either the court or the Administrative Office. Debtors also may fail to provide some or all of the data required by BAPCPA. Therefore, some caution should be used when analyzing the report's data. The full report for 2011 and previous years' reports are available online.