{"id":4064,"date":"2025-02-07T00:13:59","date_gmt":"2025-02-07T00:13:59","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/bankruptcy-filings-surge-14-2-percent-as-upward-trend-continues\/"},"modified":"2025-02-07T00:13:59","modified_gmt":"2025-02-07T00:13:59","slug":"bankruptcy-filings-surge-14-2-percent-as-upward-trend-continues","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/bankruptcy-filings-surge-14-2-percent-as-upward-trend-continues\/","title":{"rendered":"Bankruptcy filings surge 14.2 percent as upward trend continues"},"content":{"rendered":"\n<div>\n<p>Continuing an ongoing rebound after more than a decade of sharply dropping totals, bankruptcy filings in the United States rose 14.2 percent in the twelve-month period ending Dec. 31, 2024.\n<\/p>\n<p>Annual bankruptcy filings totaled 517,308 in the year ending December 2024, compared with 452,990 cases in the previous year, according to the <a href=\"https:\/\/www.uscourts.gov\/data-news\/judiciary-news\/2025\/02\/04\/bankruptcy-filings-rise-14-2-percent\" rel=\"nofollow noopener\" target=\"_blank\">latest statistics released by the Administrative Office of the U.S. Courts<\/a>. The judiciary\u2019s data showed nationwide increases in both business and nonbusiness bankruptcies,\n<\/p>\n<p>Business filings rose 22.1 percent, from 18,926 to 23,107, in the year ending Dec. 31, 2024. Nonbusiness bankruptcy filings rose 13.9 percent to 494,201, compared with 434,064 in 2023.<\/p>\n<p>In Massachusetts, the judiciary reported 4,706 bankruptcy filings in 2024. The total includes 2,952 Chapter 7 cases, 108 Chapter 11 filings, and 1,645 cases filed under Chapter 13.\n<\/p>\n<p>The 2024 total reflects a 21.6 increase from the 3,869 bankruptcy cases filed in the District of Massachusetts in 2023.\n<\/p>\n<p>In Rhode Island, there were a total of 968 bankruptcy filings, including 672 Chapter 7 cases, 8 Chapter 11 filings, and 288 cases filed under Chapter 13.<\/p>\n<p>By comparison, in 2023, there were a total of 843 bankruptcy filings in the District of Rhode Island, 14.8 percent less than the total filings in 2024.\n<\/p>\n<p>For more than a decade, total filings in the U.S. 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, the judiciary\u2019s administrative office said.\n<\/p>\n<p><!-- post-single CPT Filter Start --><!-- post-single CPT Filter End    --><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Continuing an ongoing rebound after more than a decade of sharply dropping totals, bankruptcy filings in the United States rose 14.2 percent in the twelve-month period ending Dec. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[116],"tags":[128,315,2148,271,652,1479,4558],"class_list":["post-4064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bankruptcy","tag-bankruptcy","tag-continues","tag-filings","tag-percent","tag-surge","tag-trend","tag-upward"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4064","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=4064"}],"version-history":[{"count":0,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/4065"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=4064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=4064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=4064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}