USA Sees May Drop in Bankruptcy Filings

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Total bankruptcy filings in the United States for May 2012 decreased 11 percent compared to the previous year, according to data provided by Epiq Systems on June 5, 2012. May bankruptcy filings totaled 109,392, down from the 122,836 filings registered in May 2011. Total commercial filings for May 2012 were 5,259, representing a 21 percent decrease from the 6,631 filings during the same period in 2011. The 104,133 total noncommercial filings for May represented a 10 percent drop from the May 2011 noncommercial filing total of 116,205.

Total commercial chapter 11 filings also decreased in May. Overall, the May total commercial chapter 11 filing total of 682 represented a 6 percent decrease from May 2011’s total of 722, but a 3 percent increase over the April 2012 total of 660.

May bankruptcy filings also represented slight increases over April as total filings were up 0.4 percent from the April total of 108,908. Commercial filings increased 2 percent in May from the April total of 5,170, and noncommercial filings increased 0.4 percent from the April total of 103,738.

The average nationwide per capita bankruptcy-filing rate for the first five calendar months of 2012 (Jan. 1-May 31) increased to 4.13 (total filings per 1,000 per population) from the 4.10 rate for the first four months of the year, and the average total filings per day in May 2012 was 3,529, an 11 percent decrease from the 3,962 total daily filings in May 2011. States with the highest per capita filing rate (total filings per 1,000 population) through the first five months of 2012 were:

  1. Nevada (7.17 percent)
  2. Tennessee (7.01 percent)
  3. Georgia (6.45 percent)
  4. Utah (6.13 percent)
  5. Alabama (5.87 percent)
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