See how bankruptcy affects other U.S. consumers and businesses.
Whether it’s your own finances or a business you’ve helped build, making the decision to file for bankruptcy is never easy. But in many cases it’s the best option available, and when done correctly, it can give you or your company the fresh start you need to move forward instead of continuing to struggle and backslide.
The statistics below can help you understand how bankruptcy is impacting individuals, families and businesses in the U.S. today. If you’re struggling with debt and need help, call us or complete the form to the right to connect with the expert assistance you need.
Bankruptcy filing statistics
Total number bankruptcy filings in the first quarter of 2014 — 238,708 
Out of that total: 
- Number of non-business filings — 231,716
- Number of Business filings — 6,992
Bankruptcy filings per Chapter, business and personal: 
- Total Chapter 7 — 160,292
- Total Chapter 11 — 1,925
- Total Chapter 12 — 96
- Total Chapter 13 — 76,375
Yearly bankruptcy trends
Fewer bankruptcies were filed in 2013 than were filed 2012. 
- Total number of bankruptcies filed in 2013 — 1,071,932
- Total number of bankruptcies filed in 2012 — 1,221,091
Bankruptcy credit report penalties
Number of years the negative item from a bankruptcy will remain on your credit: 
- Chapter 7 – 10 years
- Chapter 11 – 10 years
- Chapter 12 – 10 years
- Chapter 13 – 7 years
Credit score impact of bankruptcy: 
- A consumer with a credit score of 780 would lose 220-240 points off their credit score for a bankruptcy, for a resulting score of 540-560
- A consumer with a credit score of 680 would lose 130-150 points off their credit score for a bankruptcy, for a resulting score of 530-550
Article last modified on December 21, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: Bankruptcy Statistics - AMP.