Bankruptcies Rise 16 Percent Over Previous Year

Bankruptcy filings rose 16 percent during the 12-month period ending March 31, 2024. That is a similar rate of acceleration as in the Dec. 31, 2023, quarterly report, but new bankruptcy cases remain significantly lower than before the start of the coronavirus (COVID-19) pandemic.

According to statistics released by the Administrative Office of the U.S. Courts, total filings rose to 467,774 new cases, compared with 403,273 cases reported during the year ending March 31, 2023.

Business filings increased 40.4 percent, from 14,467 in March 2023 to 20,316 in the newest report. Non-business filings rose 15.1 percent, from 388,806 in March 2023 to 447,458 in March 2024.

This year’s 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. That year’s 12-month total was 764,282.

Additional statistics released today include:

• Business and non-business bankruptcy filings for the 12-month period ending March 31, 2024 (Table F-2, 12-month);
• Bankruptcy data for the twelve-month periods ending in March 2023 and March 2024 (Table F);
• Fourth quarter filings, (Table F-2, 3-month); and filings by month (Table F-2, January, February, and March)
• Bankruptcy filings by county (Report F-5A).

For more on bankruptcy and its chapters, view the following resources:

• Historic caseload statistics data tables
• Federal Rules of Bankruptcy Procedure
• General information about bankruptcy, including Bankruptcy Basics