Bankruptcies Jump More Than 16 Percent Yearly: US Courts

Total bankruptcies in the United States saw a double-digit increase in September year over year, with business filings rising by around a third, according to new data from the Administrative Office of the U.S. Courts. “Personal and business bankruptcy filings rose 16.2 percent in the 12-month period ending Sept. 30, 2024, compared with the previous year,” said a Nov. 7 statement from the office. This was the second consecutive year in which bankruptcies increased. The total number of filings made during the period was 504,112, up from 433,658. Business filings saw the largest increase, rising by 33.5 percent, while non-business figures jumped 15.5 percent. Total bankruptcies hit a peak of almost 1.6 million in September 2010 and a low of 380,634 in June 2022. The number of filings has risen every single quarter since then, the office noted....