New bankruptcy cases filed for the year ending September 2018 have seen more than a 2 percent decrease from the year prior, the lowest for any 12-month period since June 2007.
Bankruptcy filings fell by 2.2 percent for the year end Sept. 30, 2018 compared to the year ending Sept. 30, 2017, the U.S. Courts announced Wednesday. A total of 773,375 bankruptcy cases were filed in fiscal year 2018, compared to 790,830 cases in FY17.
The drop continues a trend of slight annual declines in bankruptcies filed with the United States Courts following a national wave of bankruptcies that began in 2008 and reached a peaked in 2010, when nearly 1.6 million bankruptcies filed.
Business and non-business filings have seen a drop from 963,739 cases in 2014 to 773,375 in 2018, according to statistics released by the Administrative Office of the U.S. Courts. Bankruptcy filings in all chapters have also seen a general decrease between 2014 and 2018, except for Chapter 12, which has seen an increase from 372 filings in 2014 to 468 filings in 2018.