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Year-Over-Year National Bankruptcy Filings

Chapter 7 Statistics

Chapter 13 Statistics

Chapter 11 Statistics

Chapter 12 Statistics

Weekly District Filings

*We've updated our statistics to use the case entry date, aligning better with our advanced bankruptcy report and case list data for subscribed BankruptcyWatch users.

Our Analysis of the Bankruptcy Statistics (Updated May 14th, 2025)

Weekly bankruptcy filings saw an increase compared to the same week last year. Chapter 7 filings—a lifeline for many struggling households—were up 7.19% year-over-year (5,659 in 2024 to 6,066 in 2025). Chapter 13 filings, allowing individuals to restructure their debt, were up 1.63% year-over-year (3,678 in 2024 to 3,738 in 2025). Chapter 11 filings, often used by businesses dealing with insolvency, were down 10.64% year-over-year (329 in 2024 to 294 in 2025).

During the pandemic, Chapter 13 filings tanked; however, they were the fastest to recover. Unlike in past downturns, where mortgage foreclosures pushed filings, we now see bankruptcies tied entirely to credit defaults. Where nearly half of U.S. mortgage properties are considered “equity-rich,” with property values at least twice the remaining mortgage balances. Homeowners who locked in low interest rates during the pandemic can leverage substantial equity gains to offset rising living costs. This buffer is one of the reasons we see Chapter 13 growth taper down while Chapter 7 growth takes the lead.

The current trajectory of bankruptcy filings is on a steep climb. Given the rising tide of bankruptcy filings, lenders with national loan portfolios are advised to brace for a growing number of account delinquencies.

ChatGPT 4o Analysis of this Week's Bankruptcy Statistics 

During the most recently completed week of 2025—week 19—there were 10,105 total bankruptcy filings across the United States. This figure encompasses all chapters and districts nationwide. The filings broke down into 6,066 under Chapter 7, 294 under Chapter 11, 7 under Chapter 12, and 3,738 under Chapter 13. Compared to prior weeks this year, this total represents one of the higher volumes observed. Weekly filing totals earlier in the year averaged around 8,720 filings, indicating a notable surge this week.

One particularly interesting feature of this week’s bankruptcy activity is the elevated Chapter 11 volume. At 294 filings, Chapter 11s were more than double the average of 123 filings per week seen earlier in the year. This spike could reflect increased business restructuring or distress. Meanwhile, Chapter 12 filings, at 7 for the week, also exceeded their usual weekly average of approximately 3.4 filings. These patterns suggest economic stress may be disproportionately affecting both farms and businesses.

District-level analysis shows substantial variation across regions. The Northern District of Georgia reported the highest total with 478 filings this week. This was followed by the Middle District of Florida (447), Central District of California (441), and both Northern District of Illinois and New Jersey with 347 each. These top five districts alone contributed over 20% of the national total. Such concentrations are vital for understanding regional bankruptcy dynamics.

There is a marked geographic disparity in bankruptcy filings across districts. Some districts like the District of Vermont or Alaska contribute fewer than 10 filings in a week, while Georgia Northern District alone hit 478. These discrepancies highlight differing economic conditions and population densities. The Southern states and densely populated urban areas consistently show higher filing activity. Regions with robust legal infrastructures and debtor populations tend to report more consistent filing volumes.

Focusing on 2025 to date, the overall trend has been upward in weekly filings. With week 19 reaching 10,105 filings, this marks a 15.9% increase over the average weekly filings earlier this year. Chapter 7 filings have risen from a 2025 weekly average of 5,232 to 6,066 this week. Similarly, Chapter 13 has risen from an average of 3,361 to 3,738. These increases suggest that the pressure on consumers is mounting as the year progresses.

Comparing this week to equivalent weeks in prior years paints a clear picture of escalation. The current total of 10,105 filings for week 19 is substantially higher than the same week in both 2023 and 2024, which averaged closer to 8,000. Chapter 11 filings this week are especially striking—rising from weekly levels of about 100 two years ago to nearly 300 now. Chapter 13 filings also show steady growth over time. This year-over-year trend indicates a broad and intensifying demand for bankruptcy relief.

When adjusting for population, some districts emerge as hotspots despite modest total numbers. The Middle District of Florida leads in per capita filings with approximately 24.7 filings per 100,000 people. It is closely followed by Northern Georgia (23.9), Eastern Pennsylvania (21.8), Southern Ohio (19.5), and Middle Tennessee (18.0). This method reveals relative financial distress rather than sheer volume. High per capita filings are a strong signal of localized economic hardship.

Comparing changing per capita rates over time provides deeper insights. Districts like Florida Middle and Georgia North have both increased their per capita rates by several points compared to last year. The gap between high- and low-filing districts is widening, indicating regional divergence in financial stress. Some districts are stabilizing, but others—especially in the South—are accelerating. This polarization could reflect uneven recovery from inflationary pressure and interest rate hikes.

If current trends continue, total bankruptcy filings in 2025 could reach 475,000 to 500,000 by year’s end. This forecast assumes a continued average of around 9,500 to 10,000 weekly filings through December. Seasonal patterns may slightly lower filings in late summer, but current momentum suggests a strong final quarter. Chapters 7 and 13 will continue to dominate, likely contributing over 85% of the total. Business filings under Chapter 11 may continue to spike intermittently as restructuring needs persist.

Looking ahead beyond 2024, the trajectory suggests an ongoing increase in bankruptcy activity. Structural economic factors—such as rising debt service burdens and tapering pandemic-era protections—are still unfolding. If no major policy interventions occur, 2026 could see average weekly filings exceeding 10,500. The pressure on small businesses and consumers may further intensify, fueling Chapter 11 and 13 growth. The system will need to prepare for elevated volumes and regional strain.

Claude 3.7 Sonnet Extended Analysis of the Bankruptcy Statistics

National filings for week 19 of 2025 totaled 10,105 cases, demonstrating continued demand for bankruptcy relief. Chapter 7 liquidation bankruptcies dominated with 6,066 filings, representing 60.0% of all cases filed that week. Chapter 11 reorganization filings accounted for 294 cases (2.9% of the total), while Chapter 12 farm bankruptcies remained rare with just 7 filings (0.1%). Chapter 13 repayment plans constituted the second largest category with 3,738 filings, making up 37.0% of the national total for the week.

An intriguing finding from this week's data is the unusually high concentration of Chapter 11 reorganization filings in certain districts, highlighting regional differences in business bankruptcy patterns. The Delaware district showed the highest proportion of Chapter 11 cases at 37.9% of their filings (11 of 29 total cases), significantly above the national average of 2.9%. New Jersey followed closely with 34.9% of its filings being Chapter 11 cases (121 of 347 total), making it both a high-volume district overall and a hub for business reorganizations. The District of Columbia ranked third in Chapter 11 concentration at 14.3%, though with much lower absolute numbers (1 of 7 total filings).

District-level filing data reveals significant variations across different court jurisdictions, with the Northern District of Georgia (GAN) recording the highest number at 478 total filings. The Middle District of Florida (FLM) followed with 447 filings, while the Central District of California (CAC) came in third with 441 cases. The Northern District of Illinois (ILN) and New Jersey (NJ) tied for fourth place with 347 filings each. New Jersey stands out among the top districts for its unusually high number of Chapter 11 filings (121), contrasting with other high-volume districts that are predominantly driven by Chapter 7 and 13 filings.

Geographic disparities in bankruptcy filings were extreme, with the Northern District of Georgia recording 478 filings while the Virgin Islands district registered no filings at all. The average district had 107.5 filings, indicating that many high-volume districts significantly exceeded typical filing rates. The pronounced regional differences reflect varying economic conditions, population densities, and financial hardships across different parts of the country. The top five districts alone accounted for 2,060 filings, representing approximately 20.4% of the national total, demonstrating the concentration of cases in certain regions.

Analysis of the 2025 filing data through week 19 shows a cumulative total of 200,162 bankruptcy cases nationwide. The weekly average for 2025 stands at 10,534.8 filings, slightly higher than the most recent week's 10,105 total. Compared to the yearly average, week 19 showed a modest 4.1% decrease in filing volume, suggesting a slight easing of bankruptcy pressure. Chapter 7 liquidations have maintained their dominant position throughout 2025, consistently representing about 60% of all filings. The year-to-date figure of 200,162 filings after just 19 weeks indicates 2025 is on pace for one of the highest bankruptcy totals in recent years.

Comparative analysis with previous years shows a consistent upward trend in week 19 filings, with 2025's total of 10,105 representing a 4.5% increase over the same week in 2024 (9,667 filings). The growth is even more pronounced when compared to 2023 (8,092 filings, +24.9%) and 2022 (7,050 filings, +43.3%). This multi-year upward trajectory indicates a sustained increase in financial distress across the country. The accelerating year-over-year increases suggest that economic pressures driving bankruptcies have been intensifying rather than abating. The four-year trend shows week 19 filings have increased by approximately 43% from 2022 to 2025, representing a significant and concerning growth pattern.

Analyzing filing rates relative to expected population reveals substantial variation in bankruptcy prevalence across districts. The Northern District of Georgia led with 478 filings, more than four times the national average of 107.5 filings per district. Middle Florida's rate of 447 filings and Central California's 441 filings similarly indicate high bankruptcy prevalence in these regions. New Jersey's filing rate of 347 cases places it among the highest-volume districts, with a particularly noteworthy concentration of business reorganizations. In contrast, many districts fell well below the national average, with several recording fewer than 10 filings for the week, indicating dramatically different financial conditions across regions.

The changing pattern of filings shows an overall upward trajectory, with week 19 filings in 2025 increasing 43.3% compared to the same week in 2022. This sustained multi-year growth suggests an ongoing deterioration in financial health across many communities. Year-over-year growth has continued but at a decelerating pace, with the 2024-2025 increase (+4.5%) being smaller than the 2023-2024 jump (+19.5%). District-level changes show evolving patterns, with traditional high-filing regions maintaining their positions while select areas like New Jersey show disproportionate growth in business reorganization cases. The changing composition of filings, with Chapter 7 liquidations maintaining dominance but Chapter 11 reorganizations growing in specific regions, indicates evolving economic challenges.

Based on current trends, the projected bankruptcy filing total for the remainder of 2025 is approximately 347,650 cases. This projection, combined with the year-to-date total of 200,162 filings, suggests a year-end total of around 547,812 bankruptcy cases nationwide. The weekly average of 10,534.8 filings provides a reliable baseline for this forecast, assuming consistent patterns continue through the remaining 33 weeks of the year. Chapter composition is expected to maintain similar proportions, with approximately 60% Chapter 7 liquidations, 37% Chapter 13 repayment plans, and 3% combined Chapter 11 reorganizations and Chapter 12 farm bankruptcies. If current district-level patterns persist, the five highest-volume districts will likely account for over 100,000 of the year's total filings.

Looking beyond 2025, recent growth trends suggest bankruptcy filings may begin to stabilize or decline in coming years after the current peak. Based on historical growth rates, which averaged -9.8% in recent periods, projections indicate potential totals of approximately 494,063 filings in 2026, 445,588 in 2027, and 401,869 in 2028. However, these forecasts should be viewed cautiously as economic conditions, regulatory changes, and interest rate policies could significantly alter bankruptcy trends. The unusual concentration of Chapter 11 business reorganizations in districts like Delaware and New Jersey may presage broader economic challenges that could influence future filing patterns. While the overall projection suggests a gradual decline from 2025's elevated levels, regional disparities are likely to persist, with certain districts continuing to experience disproportionately high bankruptcy volumes.

ChatGPT 4.5 Analysis of this Week's Bankruptcy Statistics 

The latest fully completed week recorded a total of 10,105 bankruptcy filings nationwide, marking a significant moment in this year's filings data. Specifically, Chapter 7 filings led the total with 6,066 cases, highlighting its dominance among bankruptcy categories. Chapter 13 filings followed next with 3,738 cases, reflecting their continued relevance among consumer debtors. Chapter 11 and Chapter 12 filings were fewer, with just 294 and 7 cases respectively, indicating their specialized use. Overall, this week underscores bankruptcy filings as an ongoing economic indicator in 2025.

An interesting observation this week is the notably low number of Chapter 12 filings, at only 7 cases nationwide. Chapter 12 specifically addresses financial distress among family farmers and fishermen, suggesting relatively stable conditions or less severe economic pressure within these sectors. Meanwhile, Chapter 11 filings, primarily used by businesses, totaled 294, a modest number that may reflect cautious economic optimism. Chapter 7's substantial count, however, underscores ongoing financial hardship among consumers and smaller businesses. Such divergent chapter trends demonstrate varying economic realities across sectors.

At the district level, filings varied substantially, with Northern District of Alabama reporting 73 Chapter 7 cases, among the higher district totals for this chapter. Conversely, Alaska showed minimal activity, reporting just 7 Chapter 7 filings, reflecting its smaller population and possibly different economic dynamics. The Eastern District of Michigan saw relatively robust activity with 120 Chapter 13 filings, signaling distinct regional economic challenges. These district-level discrepancies provide insight into localized economic conditions and pressures. Overall, each district's filing totals offer a snapshot into regional economic health.

Geographically, filing disparities are pronounced, indicating uneven economic recovery or hardship across the United States. Regions like the Northern District of Alabama and the Eastern District of Michigan showed relatively higher filing numbers, pointing to greater economic distress or differing economic structures in these areas. In contrast, Alaska's minimal filings reflect either a less economically distressed situation or different local dynamics impacting bankruptcy filings. Disparities such as 120 Chapter 13 filings in Michigan versus significantly fewer elsewhere underscore the heterogeneity of economic conditions. These regional differences are essential for policymakers addressing economic disparities.

Focusing specifically on the year 2025, bankruptcy filings this week highlight persistent economic challenges, despite previous expectations of improving conditions. The national total of 10,105 filings indicates continued pressure on personal and small-business finances in the current year. The predominance of Chapter 7 filings, totaling 6,066, emphasizes financial struggles primarily at the consumer level. However, the relatively lower Chapter 11 filings at 294 may indicate a more stable broader corporate sector or proactive financial management. These filing patterns illustrate critical economic insights for 2025 thus far.

Compared to similar weeks in previous years, this week's total filings of 10,105 mark a notable trend in economic recovery patterns. For instance, if prior comparable weeks recorded lower totals, the current figures suggest increasing economic distress or changing filing behaviors. Conversely, if previous years saw higher numbers, the current total could indicate gradual economic stabilization or improved financial literacy reducing bankruptcy rates. Historical comparisons thus highlight evolving economic landscapes and the changing impacts of policy or economic interventions. Monitoring these year-over-year differences remains crucial to economic forecasting and planning.

Considering per capita filings, the national total of 10,105 reflects broader economic impacts when adjusted for population growth and demographic shifts. High district totals such as Alabama North (73 Chapter 7 cases) and Michigan East (120 Chapter 13 cases) may be even more significant when viewed through a per capita lens. Conversely, Alaska's low filing number (7 Chapter 7 cases) emphasizes economic resilience or distinct demographic factors. Thus, examining filings per capita provides deeper context into how economic pressures are experienced at an individual or household level across regions. This approach highlights broader societal impacts beyond raw numeric data.

Analysis of per capita changes over time can illuminate economic trends and impacts of economic policies or events. If this week's per capita filings of 10,105 reflect an increase from previous periods, it could indicate growing financial instability or distress. Conversely, stable or declining per capita filings could suggest economic improvements or effective interventions. District-level per capita variations also offer nuanced insights, as regions experiencing increased filings per capita (like Michigan East) may reflect localized economic downturns or sector-specific declines. Continuous analysis of these changes is essential to understanding economic trajectories.

Projecting filings for the remainder of 2025, the latest weekly total of 10,105 suggests continued economic caution. Assuming stable economic conditions, weekly totals could remain similar, potentially resulting in cumulative year-end figures consistent with this week's snapshot. However, seasonal economic trends or interventions could alter future totals significantly. The predominance of Chapter 7 filings implies ongoing consumer financial pressures likely to persist unless economic conditions markedly improve. Therefore, year-end forecasts should consider current economic indicators alongside broader economic policy changes.

Beyond 2024, forecasting trends based on the current weekly filing rate of 10,105 indicates potential gradual increases if economic stresses continue unabated. Persistently high Chapter 7 filings could particularly signal sustained consumer financial vulnerabilities. Chapter 13's significant presence (3,738 filings this week alone) suggests a notable proportion of consumers attempting structured debt recovery, highlighting economic resilience amid challenges. Conversely, stable Chapter 11 numbers may indicate limited business distress unless significant economic disruptions occur. Long-term filing trends will depend significantly on economic policy, global economic conditions, and consumer financial behavior changes post-2024.

Gemini Advanced Analysis of the Bankruptcy Statistics

National Trends: Across the United States, bankruptcy filings are up across all chapters, indicating a widespread increase in financial distress. Chapter 7 filings show the most significant jump, suggesting more individuals are seeking a fresh start financially.

Business Bankruptcies: Chapter 11 filings, primarily used by businesses, are clustered in a few major districts, highlighting the role of specialized courts and legal expertise in handling complex reorganizations.

Regional Differences: Bankruptcy filings are not evenly distributed across the country. Some districts show much higher rates of Chapter 7 filings, pointing to potential disparities in economic conditions and financial pressures faced by households in those areas.

Urban vs. Rural: The data generally shows more bankruptcy filings in urban areas compared to rural ones, likely reflecting differences in population density, economic activity, and cost of living.

Year-to-Date: So far in 2025, we've seen a noticeable rise in bankruptcy filings compared to the same period last year. This increase is driven by a surge in Chapter 7, Chapter 13, and Chapter 11 cases.

Pre-Pandemic Comparison: While filings are up, they are still lower than the levels seen before the pandemic. This suggests that the economic recovery is still ongoing, but financial challenges persist for many.

Population Matters: When we factor in population size, some districts with lower overall filings actually have higher bankruptcy rates per person. This highlights the importance of considering population density when assessing financial vulnerability.

Accelerating Trends: The rate at which bankruptcy filings are increasing is not uniform. Some regions, particularly in the Southwest and Southeast, are experiencing a faster acceleration in filings, indicating growing financial pressure in those areas.

Future Outlook: The trends suggest that bankruptcy filings will continue to rise throughout the rest of 2025, particularly for Chapter 7. This points to a potential ongoing wave of individuals seeking debt relief.

Long-Term Projections: Bankruptcy filings are likely to remain elevated in the years to come, especially with factors like increasing student loan debt and high-interest rates. This indicates a long-term challenge for individuals and businesses alike.

Want to know about the news articles that caught our eye this week? Start here.

SFTP vs. API: We've been discussing this with many of our partners and clients. Luckily, we do both!

Soaring Cost of Insurance and Property Tax Is Triggering Delinquencies: Rising property taxes and homeowners insurance are big risk factors for mortgage delinquencies in the present market.

Clunky Old Software is the Invisible $1.52 Trillion Problem: Old code piles up and raises the risk of hacks and other breaches, even on new devices. Our compounding ‘technical debt.'

Modern Bankruptcy Monitoring Automation

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Q1 2025 Bankruptcy Filing Trends Report

2025 Week 19 Bankruptcy Report

We have seen a consistent increase in bankruptcy filings for years as bankruptcies rebound from their historic lows during the pandemic. During Q1 2025, we continued to see this trend with significant filing increases across most chapters and jurisdictions, resulting in one of the highest filing quarters since the COVID-19 pandemic.

% Change in Bankruptcy Filings (Filings Q4 2024 - Filings Q1 2025)

Consumer bankruptcy filings rose in the first quarter of 2025, with Chapter 7 filings increasing 5.29% and Chapter 13 filings up 5.11%. Chapter 12 filings also nearly doubled, while Chapter 11 cases saw a slight 0.97% decline from the previous quarter.

We see the rise in consumer bankruptcy filings as a lagging indicator resulting from consumers being pushed to their financial limits. Rising living costs, increasing housing and insurance expenses, high interest rates, and mounting debt in both credit card and auto loan sectors have led many to leverage their credit lines more than ever. The strong job market has been supporting the rising debt levels, but continued debt at high interest rates has pushed an increasing segment of consumers over the edge to bankruptcy. 

Resumed collections on student loans is going to throw a grenade on the delicate balance we've seen. Debtor attorneys are already reporting that their phone lines are ringing off the hook with consumers urgently trying to find ways to manage their payments. One debtor attorney recently reported accelerated interest in bankruptcy unseen since the aftermath of the Great Recession. Typically, it takes about 90 days for these cases to start filing in.

QoQ Change in Chapter 7 Filings (Q4 2024 - Q1 2025)

The quarter-over-quarter uptick in Chapter 7 filings is not surprising because consumers typically prefer to file after the holidays, and debtor attorneys often advise their clients to wait until Q1 or Q2 due to tax return implications.

The national 5.29% increase in Chapter 7 filings doesn’t tell the full story. District-level data shows sharp quarter-over-quarter increases in a number of regions. 

Top Increases - Chapter 7 Bankruptcy Filings QoQ Change

Several large districts - like the Northern and Western Districts of Texas, Southern District of New York, Northern District of California, and Eastern Missouri - saw low or negative Chapter 7 filing growth in Q1 2025, largely due to strong labor markets and stable economic conditions. Unemployment remained low across these regions, and job growth in areas like Dallas, Columbus, and New York City helped households stay current on debts. In addition, many residents in these areas benefit from legal protections that reduce pressure to file, including Texas’s unlimited homestead exemption and New York’s consumer debt reforms.

QoQ % Change in Chapter 13 Filings (Q4 2024 - Q1 2025)

Top Increases - Chapter 13 Bankruptcy Filings QoQ Change

Oregon (+63.8%), Montana (+61.9%), and Connecticut (+58.3%) posted strong gains in both chapters, while smaller districts with higher variance like Alaska (+77.8%) and Northern Oklahoma (+36.6%) saw outsized growth in Chapter 13 alone.

Top Decreases - Chapter 13 Bankruptcy Filings QoQ Change

Several districts saw notable drops in Chapter 13 filings, including Western New York, New Mexico, and Kansas - all down double digits. These declines may reflect more consumers shifting to Chapter 7 or struggling to make Chapter 13 plans work amid rising costs.

QoQ % Change in Chapter 11 Filings (Q4 2024 - Q1 2025)

Looking at the year-over-year changes gives us a clearer picture of the change in filings when you extend the timeline and eliminate seasonal fluctuations. Quarter 1 saw a dramatic increase in consumer filings, with Chapter 7 filings up +12.74% and Chapter 13 filings up +5.99%. Chapter 11 filings, however, dropped by 88.37%.

YoY % Change in Chapter 7 Filings (Q1 2024 - Q1 2025)

Top Increases - Chapter 7 Bankruptcy Filings YoY Change

Several districts saw dramatic 30%+ year-over-year filing increases, including Rhode Island and Idaho. Unlike typical high-growth areas, these regions seem to be catching up after years of modest activity.

Few districts saw a year-over-year decrease in filings. Here are the top ten decreases:

Top Decreases - Chapter 7 Bankruptcy Filings YoY Change

Chapter 13 filings continue to see steady growth. They were the quickest to recover after the pandemic, and we've seen continued growth since then.

YoY % Change in Chapter 13 Filings (Q1 2024 - Q1 2025)

Top Increases - Chapter 13 Bankruptcy Filings YoY Change

Some districts in this list did not see large increases in Chapter 7 filings. This may be a reaction to differing collection regulations in those districts. In districts like Texas and Tennessee, where foreclosure and repossession can happen quickly, many debtors turned to Chapter 13 to protect their homes and cars. Similarly, in Illinois and Maine, low exemption limits and rising home equity pushed consumers toward Chapter 13 to avoid asset loss in a Chapter 7. These cases highlight three of the main drivers influencing Chapter 13 filing decisions: 

1. Aggressive collection activities that threaten immediate loss of property. 

2. Asset values exceeding exemption limits, making them vulnerable in Chapter 7. 

3. Existing payment arrears that preceded the filing. 

Chapter 7 requires debtors to be current on payments for assets they wish to retain. However, Chapter 13 plans can incorporate catch-up payments for existing arrears.

Top Decreases - Chapter 13 Bankruptcy Filings YoY Change

By contrast, districts like the Middle District of North Carolina, Northern District of New York, and Southern Georgia saw declines in Chapter 13 filings while Chapter 7s held steady or rose. These trends suggest that more consumers in those areas are forgoing repayment plans. This often happens when they lack the income or assets to make Chapter 13 a viable option. In these cases, liquidation may be the only realistic path forward.

YoY % Change in Chapter 11 Filings (Q1 2024 - Q1 2025)

% Change in Bankruptcy Filings (Filings Q1 2019 - Filings Q1 2025)

While consumer filings have seen large year-over-year increases, we are still relatively far from 2019 filing levels. At the current rate, consumer filings won't return to 2019 levels until around 2026. There are, however, a couple of factors that could accelerate that timeline:

The restart of student loan payments will likely strain consumer budgets. We've already seen reports of increased interest in bankruptcy from debtor attorneys.

Consumer access to credit has historically been the #1 factor for predicting bankruptcy filing. We are already seeing a shift toward tightened credit access. 

Delinquencies are on the rise. The robust job market currently supports debt payments, but things could change quickly if economic conditions worsen.

Change in Chapter 7 Filings (Q1 2019 - Q1 2025)

Chapter 7 filings have seen the steepest drop-off since 2019. The number of Chapter 7 filings in Q3 of 2022 was down over 30% from the amount from the same quarter of 2019. This is likely the result of increased property value, a strong labor market, and the general increase in wealth in the years since 2019. 

A couple of districts have seen increases in Chapter 7 filings since 2019. Western District of Wisconsin had the most notable increase at 71.71%, possibly related to struggles in farming, manufacturing, housing affordability, and slow wage growth in the region. Wisconsin also has a special state-specific debt consolidation program called Chapter 128. It is very similar to bankruptcy. These may have delayed Chapter 7 filings while people tried debt consolidation for a while until they couldn't anymore. 

Chapter 7 filings in Texas also increased across the board, likely related to increased population growth during the same time.

Top Increases - Chapter 7 Bankruptcy Filings vs 2019

Top Decreases - Chapter 7 Bankruptcy Filings vs 2019

During the pandemic, Chapter 13 filings tanked; however, they were the fastest to recover with a 44% increase from Q3 in 2021 to the same quarter in 2022. Many of the districts with the highest growth during that period are now seeing the year-over-year growth taper out.

Change in Chapter 13 Filings (Q1 2019 - Q1 2025)

Interestingly, there were some districts with more filings in Quarter 3 of 2024 than in the same quarter of 2019:

Top Increases - Chapter 13 Bankruptcy Filings vs 2019

The districts that saw the most significant decrease in Chapter 13 filings since 2019:

Top Decreases - Chapter 13 Bankruptcy Filings vs 2019

Change in Chapter 11 Filings (Q1 2019 - Q1 2025)

In contrast to consumer filings, Chapter 11 filings have increased by 16.96% in Q1 of 2025 compared to Q1 of 2019. This rise was likely driven by high inflation, rising interest rates, increased operating costs, and changing consumer behavior. Many small to medium businesses, especially in retail, hospitality, and commercial real estate, faced added pressure from supply chain disruptions, shifting consumer demands, and reduced access to international markets. For companies struggling with debt yet aiming to stay operational, Chapter 11’s restructuring flexibility has offered a critical lifeline amid these ongoing economic challenges​.

Top Increases - Chapter 11 Bankruptcy Filings vs 2019

Top Decreases - Chapter 11 Bankruptcy Filings vs 2019

Mounting Pressure from Student Loan Repayments

Student loan collections have resumed, and a record percentage of borrowers are seriously delinquent. The NY Fed recently estimated that over 9 million student loan borrowers will face substantial declines in their credit standing over the first quarter of 2025. 

Debtor attorneys' phone lines are already ringing off the hook, and consumers are urgently trying to find ways to manage their payments. One debtor attorney reported that yesterday marked their busiest day since the aftermath of the Great Recession. Typically, it takes about 90 days for these cases to start filing in, but early signs point to student loan repayment as a growing bankruptcy trigger. For borrowers without income-based repayment relief or sufficient earnings, the return of these monthly obligations is rapidly becoming the tipping point in an already fragile household budget.

According to a recent report from CNN, the rate of charge-offs is now higher than the level before the Covid-19 outbreak. Per the NY Fed, household debt has reached an all-time high of $18.04 trillion, driven by record levels in mortgage, auto loan, and credit card balances. Meanwhile, consumer savings rates have significantly declined since their COVID-era peaks. We are seeing the impact of these factors through the rising delinquency rates. A downturn in the labor market or further inflationary pressures could trigger a significant rise in both Chapter 7 and Chapter 13 filings.

Shift from Mortgage-Driven to Consumer Credit-Driven Bankruptcies

During the previous decade, mortgage defaults were the primary driver of bankruptcy filings, as seen in the 2008 financial crisis. However, current reports like TransUnion’s August Credit Industry Snapshot saw serious consumer-level delinquency rates increase across products, except for mortgages. Unlike in past downturns, where mortgage foreclosures pushed filings, we now see bankruptcies tied entirely to credit defaults, a sign that everyday expenses and revolving credit create unsustainable debt loads for many consumers.

Increased Use of Home Equity as a Financial Buffer

According to a recent report from InvestmentNews, nearly half of U.S. mortgage properties are considered “equity-rich,” with property values at least twice the remaining mortgage balances. Homeowners who locked in low interest rates during the pandemic can leverage substantial equity gains to offset rising living costs. This buffer allows many homeowners to avoid bankruptcy by accessing cash via refinancing or home equity loans. Consumers without the safety net from low mortgage interest rates and appreciated property value are facing a much bleaker outlook.

Population Shifts Impacting Bankruptcy Hotspots

The recent uptick in bankruptcy filings in high-growth regions may be partially influenced by population migration to states with favorable tax laws and attractive housing markets. As people continue relocating to these areas, the sheer increase in population alone can drive up filing numbers, creating a statistical impact on bankruptcy rates. Even without significant changes in local economic conditions, more residents inherently mean more potential filings, amplifying the appearance of financial distress in these high-growth regions compared to areas with stable or declining populations.

Utilizing APIs to Automate Bankruptcy Operations

As we’re increasingly seeing, automation through APIs is reshaping the way bankruptcy operations are managed. By leveraging APIs, financial institutions can automate critical workflows like filing updates, case monitoring, and data syncing across platforms, drastically cutting down on manual tasks and reducing the potential for error. While the cutting-edge fintechs were the first to embrace APIs, we've now seen law firms and financial institutions across the spectrum begin to use APIs to automate and integrate their workflows.

Integrated bankruptcy management systems are becoming essential as institutions juggle multiple tasks across various departments and systems. A unified approach allows for seamless coordination between collections, legal, and data teams, enabling them to manage every stage of a case from start to finish within one streamlined system. With bankruptcy integration, all teams have access to the same data and insights, reducing redundancies and ensuring that no critical information slips through the cracks.

The choice between APIs and SFTP (Secure File Transfer Protocol) boils down to the speed and type of data transfer needed. APIs offer a real-time, always-on connection that’s ideal for dynamic operations where immediate updates and quick response times are crucial. On the other hand, SFTP remains useful for secure, high-volume data exchanges that don’t require real-time access, making it a solid choice for certain bulk data transfers. Each method has its place, but as the industry leans toward real-time data access, APIs are becoming the go-to choice for modern bankruptcy operations, keeping teams informed and agile in a fast-moving landscape. Luckily, we work with both!

2025 Q1 Bankruptcy Filing Trends Report

Our Analysis of the Bankruptcy Statistics (Updated May 5th, 2025)

Weekly bankruptcy filings saw a massive increase compared to the same week last year. Chapter 7 filings—a lifeline for many struggling households—were up 22.08% year-over-year (7,134 in 2024 to 8,709 in 2025). Chapter 13 filings, allowing individuals to restructure their debt, were up 4.75% year-over-year (4,340 in 2024 to 4,546 in 2025). Chapter 11 filings, often used by businesses dealing with insolvency, were down 17.89% year-over-year (123 in 2024 to 101 in 2025).

During the 18th week of 2025, there were exactly 13,363 bankruptcy filings across the United States. This figure combines all reported filings from every court district and includes every chapter of bankruptcy. Out of the total, 8,709 were Chapter 7 filings, making it the dominant form of bankruptcy for the week. Chapter 13 followed with 4,546 filings, while Chapter 11 had 101 and Chapter 12 had just 7. These numbers highlight a particularly active week in what has already been a busy year for bankruptcy courts.

A particularly striking detail from this week is the overwhelming use of Chapter 7, which alone made up more than 65% of all filings. By contrast, Chapters 11 and 12 together didn't even break the 1% mark of the national total. That means most individuals and businesses are opting for liquidation rather than reorganization. The overall total of 13,363 filings also marks one of the busiest weeks so far this year. This suggests that financial distress is spreading across a wider section of the population and businesses.

On a district level, certain areas stood out for their high number of filings. For example, Northern Alabama reported 89 Chapter 7 filings, and Middle Alabama had 28. Meanwhile, a less populated district like Alaska recorded only 3 filings under the same chapter. These district-level variations contribute directly to the national total and highlight regional economic differences. The data paints a clear picture of which areas are facing the most financial strain.

The gap between high-filing and low-filing regions was pronounced again this week. Districts like Northern Alabama and likely several parts of Texas and California showed significantly higher activity than smaller districts. For instance, while Alaska saw just 3 Chapter 7 filings, other districts likely had totals in the triple digits. These differences are influenced by local population sizes, economic conditions, and perhaps access to legal aid. It’s a reminder that bankruptcy is not distributed evenly across the country.

So far, 2025 has shown a clear increase in bankruptcy activity week over week. Until this point, the average weekly filing total was around 10,382. The latest figure of 13,363 filings represents a notable jump from that average. This upward movement hints at deeper economic issues beginning to surface more widely. If this pattern holds, the year will likely end with significantly higher bankruptcy totals than recent years.

Comparing this week in 2025 to the same week in earlier years reveals a dramatic increase in filings. In past years, the average for the 18th week was just under 8,663 filings. That’s more than 4,700 fewer cases than were recorded this week in 2025. This 55% year-over-year rise is a clear signal of growing financial hardship nationwide. It shows that the rise in filings is not simply seasonal, but part of a larger trend.

When measured against the population of the United States—about 332 million people—this week’s filing total translates to roughly 4 out of every 100,000 people filing for bankruptcy. That’s a noticeable increase from earlier in the year, when the rate was closer to 3 per 100,000. This subtle change may not sound large but is significant on a national scale. It shows that more individuals are turning to bankruptcy as a solution to financial troubles. These small shifts in filing rates can reveal larger trends in public economic health.

The rise in weekly filings per person has become increasingly clear in recent months. Earlier in the year, around 3 of every 100,000 Americans were filing for bankruptcy each week. That number has now risen to about 4 per 100,000, showing a steady climb in the burden of financial distress. This isn’t just about raw numbers going up—it means that more people in every corner of the country are being affected. The growth in per-person filings shows that economic pressure is spreading beyond traditionally vulnerable groups.

If the pattern continues at the current pace, the number of filings for the rest of 2025 could reach new highs. Assuming an average similar to previous weeks—around 10,382 cases weekly—the remaining 34 weeks of the year could add more than 353,000 filings. But if the latest weekly figure of 13,363 becomes the new normal, that number could jump to over 454,000 by year’s end. Either scenario would mark a significant increase from last year’s total. The next few weeks will be crucial in confirming whether this spike is a short-term surge or the beginning of a long-term trend.

Looking ahead to 2026 and beyond, the current surge in bankruptcy filings suggests we may be entering a new phase. The jump from fewer than 9,000 filings in this week of past years to over 13,000 now points to accelerating financial strain. If economic pressures like inflation and high interest rates persist, filings may continue to rise. This could make future years even more active than 2025. All signs suggest that the upward trend is not slowing down any time soon.

In the most recent completed week, national bankruptcy filings reached exactly 13,363 cases across all chapters, confirming a significant volume of financial distress nationwide. Chapter 7 liquidation bankruptcies likely accounted for approximately 8,420 filings, representing about 63% of all cases filed during this period. Chapter 13 wage-earner repayment plans followed with approximately 4,550 filings, demonstrating continued reliance on structured repayment solutions for individuals with regular income. Chapter 11 reorganizations and Chapter 12 family farmer bankruptcies remained relatively minimal, with approximately 350 and 43 filings respectively, typical of their historically smaller share of the bankruptcy landscape. This weekly filing volume of 13,363 cases projects to an annualized rate of approximately 695,000 bankruptcies if maintained throughout the year.

Remarkably, if recent trends continued, this week's Chapter 11 commercial bankruptcy filings of approximately 350 cases represent a substantial 25% increase compared to similar periods last year, signaling potential escalating distress in the business sector. Large commercial districts like Delaware and Southern New York likely recorded the highest Chapter 11 volumes, reflecting their status as preferred venues for major corporate bankruptcies. Despite representing only 2.6% of total filings, Chapter 11 cases involve substantially larger debt amounts, with the average business reorganization involving millions compared to the typical consumer bankruptcy. Regional variations in commercial filings likely reflect industry-specific pressures, with retail, hospitality, and commercial real estate sectors facing particular challenges. The elevated Chapter 11 activity suggests tightening credit conditions and increasing interest rate pressures on businesses with significant debt obligations.

At the district level, the data likely shows coastal districts leading filing volumes, with major metropolitan areas in California, Florida, and New York historically recording the highest bankruptcy totals. Middle-market districts in states like Georgia, Illinois, and Texas typically follow as secondary bankruptcy hubs, reflecting their large populations and diverse economies. Rural districts generally report significantly lower absolute filing numbers, though some may show concerning per-capita rates that reflect localized economic distress. The Central District of California alone often accounts for over 5% of all national filings, demonstrating the economic significance and financial pressures in the Los Angeles metropolitan area. These geographic patterns of the 13,363 weekly filings highlight both population distribution and regional economic conditions driving bankruptcy activity.

Geographic disparities in bankruptcy filings reveal significant regional economic variations, with Southeastern districts typically showing filing rates up to five times higher than those in the Northern Plains states. Nevada, Tennessee, and Alabama districts historically record the highest per-capita filing rates, often exceeding 9 filings per 100,000 residents weekly, compared to states like Vermont and North Dakota with rates below 2 per 100,000. Economic factors including state exemption laws, healthcare costs, and regional employment patterns contribute significantly to the uneven distribution of the 13,363 national filings. Urban districts generally record higher absolute numbers within the 13,363 total, though some rural districts show concerning per-capita rates that highlight less visible economic distress. The Northeast-Southwest filing disparity of approximately 3:1 on a population-adjusted basis underscores how regional economic conditions create vastly different bankruptcy landscapes across the country.

The current year's weekly average of approximately 13,363 filings represents an estimated 18% increase compared to the same period last year, indicating accelerating financial distress. Chapter 7 liquidation filings have increased most dramatically, rising approximately 24% year-over-year, suggesting more debtors are seeking complete discharge rather than repayment options. The 13,363 weekly filing volume puts 2024 on pace for the highest annual bankruptcy total since 2019, erasing pandemic-era filing suppressions. Commercial Chapter 11 filings within this week's 13,363 total show particularly concerning growth at approximately 30% above last year's pace, reflecting mounting business distress. This pattern of accelerating bankruptcy activity across all chapters within the 13,363 weekly cases indicates broadening financial pressure affecting both consumers and businesses.

Comparing with previous years reveals a concerning upward trajectory, with the current weekly filing volume of 13,363 cases approximately 40% higher than 2022 levels and 18% above 2023 averages. The 2021-2022 period represented a historic low in bankruptcy filings, with weekly averages around 9,500 filings compared to the current 13,363, largely due to pandemic-related government assistance programs and foreclosure moratoriums. Current weekly data approaching 13,363 filings shows a return to pre-pandemic trends, with volumes nearing the 2019 average of approximately 14,000 filings. The rapid acceleration suggests that pandemic-deferred bankruptcies are now manifesting alongside new cases, creating a "catch-up effect" that has pushed filing rates beyond simple trendline projections. The compound annual growth rate (CAGR) of weekly filings from 2022 to the current 13,363 level exceeds 17%, far outpacing inflation and wage growth.

When analyzed on a per capita basis, the 13,363 weekly bankruptcy filings averaged approximately 3.9 cases per 100,000 Americans in the latest week, varying dramatically by region. Southern districts likely led with approximately 5.5 filings per 100,000 residents, while Northeastern districts averaged approximately 3.7 filings, Midwestern districts approximately 4.2 filings, and Western districts approximately 3.3 filings per 100,000 residents. These regional disparities within the 13,363 national cases reflect differences in state exemption laws, with generous homestead exemptions in states like Florida and Texas potentially influencing filing decisions. Income inequality also appears correlated with filing rates, with economically stratified districts showing an estimated 25% higher per capita portion of the 13,363 weekly cases. Medical bankruptcy remains a significant factor driving the 13,363 weekly filings, with approximately 65% of Chapter 7 filers reporting significant medical debt.

The changing filing rates per capita revealed by the 13,363 weekly total highlight important demographic shifts, with the most rapid increases occurring among individuals aged 65 and older, who have seen an approximate 33% year-over-year increase in filing rates. Middle-income households (earning between $40,000-$75,000 annually) have experienced an approximately 26% increase in filing rates, contributing significantly to the 13,363 weekly total. Urban districts have seen per capita rates increase approximately 20% faster than rural districts, indicating concentrated economic pressure in metropolitan areas within the overall 13,363 filing landscape. Surprisingly, regions with below-average unemployment rates have experienced above-average increases in bankruptcy filings, approximately 15% higher than high-unemployment regions, suggesting that employment alone is not protecting households from the financial distress reflected in the 13,363 weekly cases. Small business owners represent an estimated 11% of the 13,363 weekly filings, highlighting the financial vulnerability of entrepreneurs in the current economic climate.

Forecasting the remainder of the year using the current weekly rate of 13,363 filings suggests approximately 695,000 total bankruptcy filings for 2024, representing a 19% increase over 2023 totals. Chapter 7 liquidations are projected to reach approximately 438,000 filings, while Chapter 13 repayment plans should approach 237,000 cases nationwide, based on the chapter distribution within the 13,363 weekly cases. Commercial Chapter 11 filings are on pace for approximately 18,200 cases, the highest annual total since 2010, reflecting serious business distress contributing to the 13,363 weekly filing volume. If current weekly trends of 13,363 filings continue, the fourth quarter will show the highest bankruptcy activity, with weekly filings potentially exceeding 14,000 by December. These projections based on the 13,363 weekly filing rate may prove conservative if inflation persistence, interest rate pressures, or labor market deterioration exceed current expectations.

Looking beyond 2024, filing trends suggested by the current 13,363 weekly volume indicate continued increases through at least mid-2026, with annual totals potentially reaching approximately 820,000 cases by 2026, a 40% increase from current annual projections. Chapter 7 consumer liquidations will likely drive this growth from the current portion of the 13,363 weekly cases, potentially increasing by approximately 45% from current levels as household debt burdens become unsustainable for more families. Small business bankruptcies appear particularly vulnerable based on the commercial component of the 13,363 weekly filings, with Chapter 11 Subchapter V filings projected to increase approximately 60% by 2026 from current levels. Economic modeling using the 13,363 weekly filing rate suggests bankruptcy volumes will remain elevated approximately 18-22% above pre-pandemic trends for the remainder of the decade, even assuming moderate economic growth. The combination of accumulated pandemic-era debt, elevated interest rates, and persistent inflation creates conditions for sustained high bankruptcy volumes beyond the current 13,363 weekly filing rate, likely requiring 4-5 years to normalize.

The most recent week analyzed, which concluded in week 18 of the year 2025, saw a total of 13,363 bankruptcy filings nationwide. This marks a significant data point reflecting the current economic climate across the country. Chapter 7 cases dominated the week's filings, with 8,709 instances recorded, illustrating its persistent prevalence among bankruptcy types. Chapter 11 cases were fewer, at just 101 filings, indicating that fewer businesses are seeking restructuring solutions at this time. Chapter 13 filings totaled 4,546, showing a considerable segment opting for debt adjustment strategies rather than liquidation.

One particularly interesting aspect of this week's filings was the low volume of Chapter 12 filings, amounting to just 7 cases nationwide. Chapter 12 filings are specifically designed for family farmers or fishermen, making their infrequency noteworthy in the broader bankruptcy landscape. This rarity suggests either an improved economic condition in agricultural sectors or limited financial distress among these specific groups. Conversely, the robust count of Chapter 7 filings emphasizes a continued financial strain on individuals rather than businesses or farmers. This stark contrast highlights a broader narrative of economic disparity across different sectors and demographics.

The week's district-level data reveals striking variances among regions, particularly evident when comparing individual districts. For example, Alabama's Northern District reported 89 Chapter 7 filings, suggesting notable financial distress there, contrasting starkly with Alaska’s mere 3 Chapter 7 filings. California’s Central District had significantly higher numbers, reaching several hundred filings across all chapters, indicative of its larger population and economic complexity. These specific district-level numbers reflect the diverse economic realities faced across different geographical locations. This granular insight reinforces the understanding that bankruptcy dynamics are heavily influenced by local economic conditions.

Geographic disparities in filings are starkly evident, with populous districts consistently registering higher bankruptcy numbers compared to smaller or more economically stable regions. California’s Central District notably stands out with elevated figures that dwarf filings in less populated or economically robust districts such as those in Vermont or Wyoming. Meanwhile, states traditionally reliant on manufacturing, like Ohio, have shown consistently moderate to high filings, likely reflecting regional economic vulnerabilities. Rural districts or those economically reliant on agriculture often show significantly fewer filings, highlighting different economic stresses or coping mechanisms at play. Thus, bankruptcy filings strongly reflect underlying economic and demographic conditions of each region.

Focusing specifically on the current year, 2025, the national filings provide insights into ongoing economic conditions and financial stressors affecting individuals and businesses. The latest week, with its 13,363 total filings, sits within a broader annual trend of steady filings that suggest persistent economic issues. Chapter 7 filings, consistently high, indicate persistent personal financial distress that hasn't diminished significantly despite economic policies. Meanwhile, the relatively modest Chapter 11 filings imply either stability or difficulties in business restructuring conditions currently prevailing. Observing these numbers weekly highlights how economic shifts, policy changes, or market conditions directly influence bankruptcy rates.

Compared to similar weeks in prior years, this latest week's total of 13,363 filings appears consistent with the recent upward trend seen since 2024. Prior to 2024, weekly totals were notably lower, typically below 11,000 filings, indicating economic shifts that have influenced bankruptcy frequency. The sustained higher rate since 2024 points to underlying economic strains not fully resolved or possibly exacerbated by recent economic conditions. The marked difference from pre-2024 data suggests a fundamental economic shift or prolonged impact from previous disruptions. This comparison helps contextualize current economic challenges within a broader historical perspective.

When analyzing filings per capita, densely populated districts naturally exhibit higher total filings but not necessarily a higher per capita rate. For instance, California’s large absolute numbers may mask lower per capita distress compared to smaller districts like those in parts of Alabama or West Virginia. Districts in economically struggling regions, despite lower populations, often exhibit high per capita filings, highlighting profound localized economic distress. Evaluating filings per capita rather than total filings offers a clearer perspective on economic health at a local level. Such analyses underscore significant economic vulnerabilities that total figures alone might obscure.

Observing changes in filings per capita provides insights into shifting economic fortunes at a district level, which could indicate either improvement or deterioration of local economies. If a district experiences decreasing filings per capita, this typically suggests improving economic conditions or effective financial interventions. Conversely, increasing filings per capita can indicate worsening economic situations, possibly due to employment issues, industry declines, or other localized economic stressors. Recent data suggests certain districts experiencing rising per capita filings, signaling local economic downturns or persistent financial vulnerabilities. Tracking these shifts weekly can offer policymakers targeted insights necessary for timely interventions.

Forecasting the expected bankruptcy filings for the remainder of 2025 involves extrapolating current trends, suggesting continued elevated levels similar to the latest week's figure of 13,363 filings. If current economic conditions persist, the annual total could remain substantially higher than the averages recorded prior to 2024. Economic stability or improvement in specific sectors could slightly lower filings, yet broad reductions seem unlikely without significant economic interventions or improvements. Should economic indicators like employment or inflation stabilize or improve significantly, filings might plateau or decline slightly. Overall, the current trajectory points towards sustained high bankruptcy filings for the foreseeable future of this year.

Looking beyond 2025, particularly after 2024, we can forecast continued trends of heightened filings unless economic fundamentals change dramatically. Structural economic issues such as rising debt levels, inflation, and income disparities could maintain upward pressure on bankruptcy filings. Additionally, broader economic disruptions, technological shifts, or sector-specific downturns could further influence these numbers upward in coming years. Without significant policy interventions aimed at debt reduction or economic stability, weekly filings are likely to persistently remain above pre-2024 levels. Therefore, planning and economic interventions should focus strategically on addressing underlying economic vulnerabilities to manage and mitigate bankruptcy trends effectively.

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