Decline in bankruptcy filings is smallest in years

National data released Wednesday by the United States Courts suggests a continuing decline in bankruptcies may be plateauing. Bankruptcy filings fell by 1.8 percent for the 12-month period ending September 30, 2017, compared with the year ending September 30, 2016.

According to the courts, the decline is the smallest one-year drop since a national decline in annual federal bankruptcy filings began in June 2011.

The September 2017 annual bankruptcy filings totaled 790,830, compared with 805,580 cases in the previous year, according to statistics released by the Administrative Office of the U.S. Courts. The number of bankruptcy filings was the lowest for any 12-month period since the year ending June 2007.

A national wave of bankruptcies that began with the Great Recession in 2008 reached a peak in the year ending September 2010, when nearly 1.6 million bankruptcies were filed.

In Indiana, the data show:

— There were 14,237 total bankruptcies filed in the Bankruptcy Court for the Southern District of Indiana, a 2.9 percent decrease.

— There were 9,402 total bankruptcies filed in the Bankruptcy Court for the Northern District of Indiana, a 6.2 percent decrease.

Bankruptcies increased most dramatically in The Eastern District of New York, where they rose 20.2 percent this year, and in North Dakota, where filings were up 18.3 percent this year.      

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