(LOOTPRESS) – Personal and business bankruptcy filings rose 16.2 percent in the twelve-month period ending Sept. 30, 2024, compared with the previous year.
According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 504,112 in the year ending September 2024, compared with 433,658 cases in the previous year.
Business filings rose 33.5 percent, from 17,051 to 22,762 in the year ending September 30, 2024. Non-business bankruptcy filings rose 15.5 percent to 481,350, compared with 416,607 in the previous year.
Bankruptcy totals for the previous 12 months are reported four times annually. For more than a decade, total filings fell steadily, from a high of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022. Total filings have increased each quarter since then, but they remain far lower than historical highs.
