Bankruptcy cases filed in federal courts for the 12-month period ending Sept. 30 were down 14 percent as compared to fiscal year 2011, the Administrative Office of the U.S. Courts announced Wednesday. Filings are down more than 11 percent in the Northern and Southern District courts of Indiana.
Filings dropped by 11.6 percent in the Northern District, with 14,560 cases filed in the 2012 fiscal year as compared to 16,477 for FY 2011. In the Southern District, filings were down 11.4 percent, with 21,909 cases filed in the FY 2012 as compared to 24,727 during the previous fiscal year.
A breakdown of the cases filed in the Northern District shows 11,040 were Chapter 7, 39 were Chapter 11, 6 were Chapter 12 and 3,475 were Chapter 13. In the Southern District, 15,516 of the total filings were Chapter 7 cases, 70 were Chapter 11, 1 case was under Chapter 12, and 6,322 were Chapter 13.
Across the country, filings dropped from more than 1.467 million cases to around 1.261 million cases.