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Bankruptcy Filings Comes Down in FY 2012

The Administrative Office of the U.S. Courts released its figures on bankruptcy filings for the Fiscal Year 2012.  The number of bankruptcy petitions decreased by 14% for the 12-month period ending June 30, 2012.  However, the total number of personal or non-business bankruptcies filed during this period is 1,267,167.

According to the data released by the Administrative Office of the U.S. Courts, Bankruptcy filings for the FY 2012, totaled 1,311,602 petitions, 14 percent less than the 1,529,560 filed in the FY 2011.

Usually, the majority of bankruptcy filings involve predominantly non-business debts.  For the FY 2012, non-business filings, where the debts are predominantly personal or consumer in nature totaled 1,267,167, down 14 percent from the 1,477,426 filed during the FY 2012.

Inside Bankruptcy Filings Comes Down in FY 2012