Bankruptcies in the United States peaked in 2010, when 1.14 million Chapter 7 bankruptcies and 439,000 Chapter 13 bankruptcies were filed. These figures have since dropped to 261,277 and 183,956 respectively in 2023.

Chapter 7 bankruptcies are where the debtor’s assets are liquidated to repay as much debt as possible, while Chapter 13 bankruptcies are where the terms of the loan are changed so that the debt can be repaid over a longer period. Both are predominantly filed by private individuals.

Bankruptcies in the United States increased to 23107 Companies in the fourth quarter of 2024 from 22762 Companies in the third quarter of 2024. This dataset provides - United States Bankruptcies - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Chapter 11 bankruptcies in the United States peaked in 2009, when 13,683 businesses and 1,506 non-businesses filed a claim under Chapter 11 of the Bankruptcy Code. By 2023, these figures had dropped to 7,070 and 386 respectively.

Chapter 11 bankruptcy is where the debtor negotiates with their creditors to alter the terms of their repayments. While the terms of the loans are changed, the outstanding debt still needs to be repaid.

In 2023, Alabama had the highest personal bankruptcy filing rate in the United States. In Alabama 346.72 inhabitants per 100,000 had filed for bankruptcy. In comparison, Alaska had the lowest bankruptcy filing rate, where 25.77 inhabitants per 100,000 filed for bankruptcy.

Filing for bankruptcy

Bankruptcy is a legal process that occurs when a person, business, or organization does not have enough money to pay for all of its debts. Personal bankruptcy happens for a multitude of reasons, with one of the biggest factors being medical debt. Corporate bankruptcy happens when businesses fail or because of financial distress. When a person cannot pay off their debts, a professional accountant is appointed as a trustee in bankruptcy. Their assets are frozen and then sold in order to pay off as much of the person’s debts as possible. When an organization can’t pay back its debts, a liquidator is appointed by the court. Assets are not protected, so everything can be sold off to cover the bankruptcy. In 2020, J.C. Penny Company Inc. had the largest Chapter 11 bankruptcy filings in the United States in terms of assets.

U.S. bankruptcy

In 2023, California had the largest number of bankruptcy filings in the United States, while Alaska had the lowest. The number of non-business bankruptcy filings has been decreasing since 2010. The same is true for the annual number of business bankruptcy cases which have been in decline since 2009.

Total Insolvencies, Insolvencies Filed by Consumers, Insolvencies Filed by Businesses, Insolvencies by NAICS Economic Sectors, Canada, Insolvencies Filed by Consumers by ER, Insolvencies Filed by Businesses by ER, Insolvencies Filed by Consumers by Census Metropolitan Area (CMA), Insolvencies Filed by Businesses by Census Metropolitan Area (CMA). [Office of the Superintendent of Bankruptcy Canada]

In 2023, there were 434,064 cases of personal bankruptcy filed nationwide in the United States. The number of personal bankruptcy cases has been declining in the U.S. since 2010.

This dataset provides values for BANKRUPTCIES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

United States Number of Bankruptcy Filings: Annual: Non Business: Chapter 11 data was reported at 1,092.000 Unit in 2017. This records a decrease from the previous number of 1,118.000 Unit for 2016. United States Number of Bankruptcy Filings: Annual: Non Business: Chapter 11 data is updated yearly, averaging 1,114.500 Unit from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 3,198.000 Unit in 1992 and a record low of 520.000 Unit in 2006. United States Number of Bankruptcy Filings: Annual: Non Business: Chapter 11 data remains active status in CEIC and is reported by Administrative Office of the United States Courts. The data is categorized under Global Database’s USA – Table US.O011: Number of Bankruptcy Filings.

Bankruptcies in Germany increased to 1791 Companies in December from 1787 Companies in November of 2024. This dataset provides - Germany Bankruptcies - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Canada Insolvency Statistics: Bankruptcy data was reported at 2,545.000 Unit in Jan 2025. This records an increase from the previous number of 2,293.000 Unit for Dec 2024. Canada Insolvency Statistics: Bankruptcy data is updated monthly, averaging 4,903.000 Unit from Jan 2011 (Median) to Jan 2025, with 169 observations. The data reached an all-time high of 8,074.000 Unit in Mar 2011 and a record low of 1,946.000 Unit in Jan 2022. Canada Insolvency Statistics: Bankruptcy data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O007: Insolvency Statistics. [COVID-19-IMPACT]

This table contains the number of bankruptcy orders issued by Dutch courts. Numbers are broken down by type of bankruptcy (natural persons with or without sole proprietorship, enterprises and institutions).

Data available from: January 1981

Status of the figures: Figures over the last two months are provisional.

Changes as of March 12, 2025: The February 2025 figures have been added.

When will new figures be published? March 2025 figures are expected to be published on April 11, 2025.

Canada Insolvency Statistics: Bankruptcy: Business: Individual data was reported at 51.000 Unit in Jan 2025. This records an increase from the previous number of 48.000 Unit for Dec 2024. Canada Insolvency Statistics: Bankruptcy: Business: Individual data is updated monthly, averaging 49.000 Unit from Jan 2018 (Median) to Jan 2025, with 85 observations. The data reached an all-time high of 79.000 Unit in Mar 2019 and a record low of 17.000 Unit in Jul 2021. Canada Insolvency Statistics: Bankruptcy: Business: Individual data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

In 2023, there were 18,926 cases of business bankruptcy filed nationwide in the United States. While an increase from the previous year, the number of business bankruptcies in the United Stats has seen an overall decline, reaching a peak in 2009.

This table contains 14 series, with data for years 1991 - 2010 (not all combinations necessarily have data for all years), and was last released on 2010-06-03. This table contains data described by the following dimensions (Not all combinations are available): Geography (14 items: Canada; Newfoundland and Labrador; Nova Scotia; Prince Edward Island ...), Bankruptcies (1 items: Consumer bankruptcies ...).

United States Number of Bankruptcy Filings: Annual data was reported at 789,020.000 Unit in 2017. This records a decrease from the previous number of 794,960.000 Unit for 2016. United States Number of Bankruptcy Filings: Annual data is updated yearly, averaging 931,698.000 Unit from Dec 1980 (Median) to 2017, with 38 observations. The data reached an all-time high of 2,078,415.000 Unit in 2005 and a record low of 331,264.000 Unit in 1980. United States Number of Bankruptcy Filings: Annual data remains active status in CEIC and is reported by Administrative Office of the United States Courts. The data is categorized under Global Database’s United States – Table US.O013: Number of Bankruptcy Filings.

Bankruptcies in Italy increased to 1991 Companies in the third quarter of 2023 from 1889 Companies in the second quarter of 2023. This dataset provides - Italy Bankruptcies- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Bankruptcies in the United Kingdom increased to 2035 Companies in February from 1978 Companies in January of 2025. This dataset provides - United Kingdom Bankruptcies - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Source: INSOLVENCY OFFICE

Data Last Updated: 17/02/2025

Update Frequency: Annual

Footnotes: A Bankruptcy Order may translate into more than 1 bankrupt. As such, the number of Bankruptcy Orders made and the number of Bankruptcy Discharges may not necessarily add up with the Total Number of Undischarged Bankrupts.

Adapted from: https://tablebuilder.singstat.gov.sg/table/TS/M890561

Of the 50 counties in the United States which recorded the most bankruptcy filings in 2021, St. Louis, Minnesota had the highest rate of personal bankruptcy filings with 475.61 filings per 100,000 residents. By contrast, Harris County in Texas had the lowest, with a rate of 48.58 personal bankruptcy filings per 100,000 residents.

Bankruptcies in Finland decreased to 328 Companies in February from 381 Companies in January of 2025. This dataset provides - Finland Bankruptcies - actual values, historical data, forecast, chart, statistics, economic calendar and news.