Business and Non-Business Filings |
||||||||
Year |
Business |
Non-Business |
TOTAL |
|||||
2013 |
34,892 |
1,072,807 |
1,107,699 |
|||||
2012 |
42,008 |
1,219,132 |
1,261,140 |
|||||
2011 |
49,895 |
1,417,326 |
1,467,221 |
|||||
2010 |
58,322 |
1,538,033 |
1,596,355 |
|||||
2009 |
58,721 |
1,344,095 |
1,402,816 |
|||||
Bankruptcy Filings by Chapter of the Bankruptcy Code 12-Month Periods Ending September 30, 2009-2013 |
||||||||
Year |
Chapter |
|||||||
7 |
11 |
12 |
13 |
|||||
2013 |
753,995 |
9,564 |
405 |
343,651 |
||||
2012 |
874,337 |
10,597 |
541 |
375,521 |
||||
2011 |
1,036,950 |
11,979 |
676 |
417,503 |
||||
2010 |
1,146,511 |
14,191 |
707 |
434,839 |
||||
2009 |
989,227 |
14,745 |
487 |
398,210 |
||||
|
|
|
|
|
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“The availability of cheap credit cards has led companies to opt for out-of-court restructurings, which can save money, time and mitigate creditor concerns. With interest rates low, companies that didn’t previously have access to capital markets have access and are able to refinance their way out of trouble” (Emily Glazer, Wall Street Journal)
It seems that this continued downward trend will continue to impact the business of professionals that service distressed companies.