{"id":353,"date":"2024-04-28T20:15:53","date_gmt":"2024-04-28T20:15:53","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/bankruptcies-up-16-percent-u-s-judiciary-reports\/"},"modified":"2024-04-29T06:32:20","modified_gmt":"2024-04-29T06:32:20","slug":"bankruptcies-up-16-percent-u-s-judiciary-reports","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/bankruptcies-up-16-percent-u-s-judiciary-reports\/","title":{"rendered":"Bankruptcies up 16 percent, U.S. Judiciary reports"},"content":{"rendered":"\n<div id=\"bsf_rt_marker\">\n<div id=\"ra-player\" data-skin=\"https:\/\/assets.sitespeaker.link\/embed\/skins\/default\">\n<div class=\"ra-button\" onclick=\"readAloud(document.getElementById('ra-audio'), document.getElementById('ra-player'))\"> Listen to this article<\/div>\n<\/div>\n<p><audio id=\"ra-audio\" data-lang=\"en-US\" data-voice=\"Amazon Joanna\" data-key=\"9a894192b5d95537bb1afa80262745f5\"\/><\/p>\n<p>Bankruptcy filings rose 16 percent during the 12-month period ending March 31, according to the latest data released by the U.S. Judiciary.\n<\/p>\n<p>The Administrative Office of the U.S. Courts in its <a href=\"https:\/\/www.uscourts.gov\/news\/2024\/04\/25\/bankruptcies-rise-16-percent-over-previous-year\" rel=\"nofollow noopener\" target=\"_blank\">summary of the latest case filing figures<\/a> described the rise as a \u201csimilar rate of acceleration\u201d as in the Dec. 31, 2023, quarterly report.\n<\/p>\n<p>\u201c[B]ut new bankruptcy cases remain significantly lower than before the start of the coronavirus pandemic,\u201d the agency added.<\/p>\n<p>According to the federal judiciary\u2019s data, total filings rose to 467,774 new cases for the 12-month period ending March 31, 2024. The agency had reported a total of 403,273 new cases during the 12-month period ending March 31, 2023.\n<\/p>\n<p>Business filings increased 40.4 percent, from 14,467 in the March 31, 2023, quarterly report to the 20,316 new business cases during the latest reporting period. Non-business filings rose 15.1 percent, from 388,806 in the March 2023 quarterly report to the 447,458 in the March 2024 report.\n<\/p>\n<p>\u201cThis year\u2019s 12-month filing total for the quarter ending March 31 is nearly three-fifths of the total reported in March 2020, when the pandemic disrupted the U.S. economy,\u201d the agency said. \u201cThat year\u2019s 12-month total was 764,282.\u201d<\/p>\n<p>In Massachusetts, a total of 4,060 bankruptcy cases were filed in the 12-month period ending March 31, 2024, a figure which represents a 16.3 percent increase from 3,490 total filings reflected in the commonwealth for the reporting period ending March 31, 2023.\n<\/p>\n<p>Of the 4,060 bankruptcy filings in Massachusetts for the most recent reporting period, a total of 2,556 were under Chapter 7 along with 79 Chapter 11 filings. There were 1,423 cases filed under Chapter 13 for the reporting period.\n<\/p>\n<p>Meanwhile, Rhode Island saw a 0.4 percent decrease in total filings (809 filings for the 12-month reporting period ending March 31, 2024, compared to 812 filed in the reporting period ending March 31, 2023).\n<\/p>\n<p>Of the 809 bankruptcy cases filed in Rhode Island for the reporting period ending March 31, 2024, 606 case were filed under Chapter 7, while 5 cases were filed under Chapter 11. The U.S. Bankruptcy Court for the District of Rhode Island reported the filing of 197 Chapter 13 cases for the same reporting period.<br \/>\n<!-- post-single CPT Filter Start --><!-- post-single CPT Filter End    --><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Listen to this article Bankruptcy filings rose 16 percent during the 12-month period ending March 31, according to the latest data released by the U.S. Judiciary. The Administrative [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[116],"tags":[270,273,275,271,274,272],"class_list":["post-353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bankruptcy","tag-bankruptcies","tag-judiciary","tag-lawyer-news-updates","tag-percent","tag-reports","tag-u-s"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=353"}],"version-history":[{"count":1,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/353\/revisions"}],"predecessor-version":[{"id":356,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/353\/revisions\/356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/354"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}