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Bankruptcy Filings Continue Steady Drop

Published onMay 17, 2022

Bankruptcy filings continued a steep two-year-long fall that coincided with the start of the coronavirus (COVID-19). Filings fell 16.5 percent for the 12-month period ending March 31, 2022. According to statistics released by the Administrative Office of the U.S. Courts, the March 2022 annual bankruptcy filings totaled 395,373, compared with 473,349 cases in the previous year.

Filings fell both for businesses and non-business bankruptcies, compared with the year ending March 2021. Non-business filings fell by a total of 15.7 percent, while business filings fell 33.9 percent.

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 began. 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, 2022 (Table F-2, 12-month);
  • Bankruptcy data for the twelve-month periods ending in March 2021and March 2022 (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).
Business and Non-Business Filings,
Years Ending
March 31, 2018-2022
Year Business Non-Business Total
2022 13,160 382,213 395,373
2021 19,911 453,438 473,349
2020 23,114 741,168 764,282
2019 22,157 750,489 772,646
2018 23,106 765,722 779,828
Total Bankruptcy Filings By Chapter,
Years Ending
March 31, 2018-2022
Year Chapter
  7 11 12 13
2022 265,071 4,333 228 125,655
2021 345,224 7,832 487 119,502
2020 479,211 6,938 627 277,353
2019 477,106 6,891 509 288,039
2018 480,933 7,735 499 290,566

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

Related Topics: Bankruptcy Filings