Bankruptcy Filings Drop 24 Percent
Bankruptcy filings fell again for the 12-month period ending Dec. 31, 2021. A steady decline in filings has continued since the COVID-19 pandemic began.
Annual bankruptcy filings in calendar year 2021 totaled 413,616, compared with 544,463 cases in 2020, according to statistics released by the Administrative Office of the U.S. Courts. That is a decrease of 24.0 percent.
Business filings fell 33.7 percent, from 21,655 to 14,347 in the year ending Dec. 31, 2021. Non-business bankruptcy filings fell 23.6 percent, to 399,269 compared with 522,808 in the previous year.
Unemployment temporarily spiked in March 2020, when the COVID-19 emergency intensified. However, several factors may have impacted individuals’ decisions about whether to file for bankruptcy since the crisis began. For instance, increased government benefits and moratoriums on evictions and certain foreclosures may have eased financial pressures in many households.
The following tables are available:
- Business and non-business bankruptcy filings for the 12-month period ending Dec. 31, 2021 (Table F-2, 12-month);
- Bankruptcy data for the twelve-month periods ending in December 2020 and in December 2021 (Table F);
- Fourth quarter filings, (Table F-2, 3-month); and filings by month (Table F-2, October, November, and December)
- Bankruptcy filings by county (Report F-5A).
For more on bankruptcy and its chapters, view the following resources:
Related Topics: Bankruptcy Filings