Bankruptcies Rise, But Stay Lower Than Pre-COVID

Correction made to the Total Bankruptcy Filings by Chapter in May 2024.

Bankruptcy filings rose slightly for the 12-month period ending March 31, 2023, but new bankruptcy cases remain sharply lower than before the start of the coronavirus (COVID-19) pandemic.

According to statistics released by the Administrative Office of the U.S. Courts, total filings rose 2.0 percent, to 403,273 new cases, compared with 395,373 cases in the previous year.

Business filings increased 9.9 percent, from 13,160 in March 2022 to 14,467 in the newest report. Non-business filings rose 1.7 percent, from 382,213 in March 2022 to 388,806 in March 2023.

This year’s 12-month filing total for the quarter ending March 31 is slightly more than half of the total reported in March 2020, when the pandemic disrupted the U.S. economy. That year’s 12-month total was 764,282.

Additional statistics released today include:

• Business and non-business bankruptcy filings for the 12-month period ending March 31, 2023 (Table F-2, 12-month);
• Bankruptcy data for the twelve-month periods ending in March 2022 and March 2023 (Table F);
• Fourth quarter filings, (Table F-2, 3-month); and filings by month (Table F-2, January, February, and March)
• Bankruptcy filings by county (Report F-5A).

For more on bankruptcy and its chapters, view the following resources:

• Historic caseload statistics data tables
• Federal Rules of Bankruptcy Procedure
• General information about bankruptcy, including Bankruptcy Basics