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.

In 2023, there were ******* 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.

In 2023, Alabama had the highest personal bankruptcy filing rate in the United States. In Alabama ****** inhabitants per 100,000 had filed for bankruptcy. In comparison, Alaska had the lowest bankruptcy filing rate, where ***** 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, around **** thousand natural persons in Japan filed for personal bankruptcy. The highest number of personal bankruptcy filings in the past decade had been recorded in 2018 and 2019, with around ** thousand cases.

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.

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 ...).

This statistic shows the number of non-business bankruptcy cases filed in the state of North Carolina each year from 2011 to 2019. Numbers are based on the 12 months from January 1st until December 31st. In 2019, there were ****** cases of personal bankruptcy filed in North Carolina.

Chapter * bankruptcies in the United States peaked in 2010, when *** million non-business and ****** business claims were filed under Chapter * of the Bankruptcy Code. By 2023, these figures had dropped to ******* and ****** respectively.

Chapter * bankruptcy is when the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter * bankruptcy is contingent on earning below a certain income threshold.

Personal Bankruptcy Case: SL: Self Declared data was reported at 5,634.000 Case in Sep 2018. This records a decrease from the previous number of 6,147.000 Case for Aug 2018. Personal Bankruptcy Case: SL: Self Declared data is updated monthly, averaging 10,347.000 Case from Jan 2000 (Median) to Sep 2018, with 225 observations. The data reached an all-time high of 22,991.000 Case in Jul 2003 and a record low of 3,770.000 Case in Jan 2016. Personal Bankruptcy Case: SL: Self Declared data remains active status in CEIC and is reported by The Supreme Court. The data is categorized under Global Database’s Japan – Table JP.KA012: Personal Bankruptcy.

In 2022, the number of personal bankruptcies filed in South Korea amounted to around **** thousand cases, a slight decrease from about **** thousand in the previous year. While numbers declined from 2015 to 2018, the sharp increase in 2020 was due in part to the outbreak of coronavirus (COVID-19) and associated economic impacts.

Individual insolvencies made up of bankruptcy orders and individual voluntary arrangements (IVAs), as counts and rates (per 10,000). Individual insolvencies in 2008 for England and Wales are made up of bankruptcy orders and individual voluntary arrangements (IVAs). Insolvent individuals in England and Wales are dealt with mainly under the Insolvency Act 1986. A bankruptcy order is made on the petition of the debtor or one or more of his creditors when the court is satisfied that there is no prospect of the debt being paid. There are also individual voluntary arrangements (IVAs) and deeds of arrangement, which enable debtors to come to an agreement with their creditors. Source: Insolvency Service Publisher: Neighbourhood Statistics Geographies: Local Authority District (LAD), Government Office Region (GOR), National Geographic coverage: England and Wales Time coverage: 2000 to 2008 Type of data: Administrative data

Tables show Individual insolvencies made up of bankruptcy orders and individual voluntary arrangements (IVAs), and New Debt Relief Orders as counts and rates (per 10,000 people).

Insolvent individuals in England and Wales are dealt with mainly under the Insolvency Act 1986. A bankruptcy order is made on the petition of the debtor or one or more of his creditors when the court is satisfied that there is no prospect of the debt being paid.
There are also individual voluntary arrangements (IVAs) and deeds of arrangement, which enable debtors to come to an agreement with their creditors.

Classifying insolvent individuals into geographic areas is done using the postcode that the insolvent individual provides. The use of this in assigning an individual to a geographical area is only as good as the postcode information given. Inaccurate postcodes or incomplete/missing postcodes will lead to missing data.

Rates include revisions due to changes in population estimates.

Rates per 10,000 are calculated using area population figures for adults aged 18+.

Chapter ** bankruptcies in the United States peaked in 2010, when ******* non-business and ***** business claims were made under Chapter ** of the Bankruptcy Code. By 2023, these figures had dropped to ******* and ***** respectively.

Chapter ** bankruptcy is where debtors propose a repayment plan over a three- to five-year period. It is only available to those with sufficient disposable income to service their debts and allows for the debtor to avoid the sale of their assets to repay their outstanding debt.

Tables show individual insolvencies made up of bankruptcy orders and individual voluntary arrangements (IVAs), New Debt Relief Orders, and breathing space registrations from May 2021, as counts and rates (per 10,000 people). Insolvent individuals in England and Wales are dealt with mainly under the Insolvency Act 1986. A bankruptcy order is made on the petition of the debtor or one or more of his creditors when the court is satisfied that there is no prospect of the debt being paid. There are also individual voluntary arrangements (IVAs) and deeds of arrangement, which enable debtors to come to an agreement with their creditors. Classifying insolvent individuals into geographic areas is done using the postcode that the insolvent individual provides. The use of this in assigning an individual to a geographical area is only as good as the postcode information given. Inaccurate postcodes or incomplete/missing postcodes will lead to missing data. Rates include revisions due to changes in population estimates. Rates per 10,000 are calculated using area population figures for adults aged 18+. This dataset is one of the Greater London Authority's measures of Economic Fairness. Click here to find out more.

Australia Personal Insolvency: Bankruptcy: Debtors Petition: In Business data was reported at 298.000 Unit in Mar 2025. This records an increase from the previous number of 227.000 Unit for Feb 2025. Australia Personal Insolvency: Bankruptcy: Debtors Petition: In Business data is updated monthly, averaging 197.000 Unit from Jul 2019 (Median) to Mar 2025, with 69 observations. The data reached an all-time high of 446.000 Unit in Jul 2019 and a record low of 107.000 Unit in Jan 2022. Australia Personal Insolvency: Bankruptcy: Debtors Petition: In Business data remains active status in CEIC and is reported by Australian Financial Security Authority. The data is categorized under Global Database’s Australia – Table AU.O009: Personal Insolvency Statistics: In Business: Monthly. The difference between the sum of the states and territories and the national total is due to new personal insolvencies that are classified as part of the “Other” state or territory. The national total includes the “Other” classification, but the category is not reported separately. The “Other” classification includes personal insolvencies that report an address that is overseas, part of Australia’s other territories, incompatible with Australian Statistics Geographical Standard (ASGS) or unable to be published.

Personal Insolvency: Bankruptcy: Debtor's Petition: Agriculture, Forestry & Fishing data was reported at 1.000 Person in 20 Mar 2022. This records a decrease from the previous number of 2.000 Person for 06 Mar 2022. Personal Insolvency: Bankruptcy: Debtor's Petition: Agriculture, Forestry & Fishing data is updated weekly, averaging 4.000 Person from Apr 2020 (Median) to 20 Mar 2022, with 51 observations. The data reached an all-time high of 11.000 Person in 18 Apr 2021 and a record low of 1.000 Person in 20 Mar 2022. Personal Insolvency: Bankruptcy: Debtor's Petition: Agriculture, Forestry & Fishing data remains active status in CEIC and is reported by Australian Financial Security Authority. The data is categorized under Global Database’s Australia – Table AU.O006: Insolvency Statistics: Debtors Entering New Administrations: Fortnightly (Discontinued).

Personal Insolvency: Bankruptcy: Debtor's Petition: Public Administration & Safety data was reported at 3.000 Person in 20 Mar 2022. This records a decrease from the previous number of 10.000 Person for 06 Mar 2022. Personal Insolvency: Bankruptcy: Debtor's Petition: Public Administration & Safety data is updated weekly, averaging 4.000 Person from Apr 2020 (Median) to 20 Mar 2022, with 51 observations. The data reached an all-time high of 12.000 Person in 28 Nov 2021 and a record low of 1.000 Person in 04 Oct 2020. Personal Insolvency: Bankruptcy: Debtor's Petition: Public Administration & Safety data remains active status in CEIC and is reported by Australian Financial Security Authority. The data is categorized under Global Database’s Australia – Table AU.O006: Insolvency Statistics: Debtors Entering New Administrations: Fortnightly (Discontinued).

AFSA publish official quarterly and annual personal insolvency statistics on bankruptcies, debt agreements and personal insolvency agreements for all states and territories.\r \r From the June quarter 2023, the publication also released Greater Capital Cities Statistical Area (GCCSA) and Statistical Area Level 3 (SA3) breakdown of the number of debtors with business and non-business related personal insolvencies on a quarterly basis, using the Australian Bureau of Statistics (ABS) Australian Statistical Geography Standard (ASGS).\r \r \r Bankruptcy is a process where people who cannot pay their debts become bankrupt to receive the protection of the Bankruptcy Act 1966 and their estate is administered by a trustee. It allows for the fair distribution of property among creditors and the prosecution of dishonest debtors.\r \r A debt agreement is an arrangement between a person who cannot pay their debts and their creditors. It is a formal arrangement under Part IX of the Bankruptcy Act. A debt agreement results from creditors voting to accept a proposal from a debtor to settle their debts. To be eligible to propose a debt agreement, a debtor must be insolvent and meet threshold levels relating to unsecured debts and assets and after-tax income.\r \r Personal insolvency agreement (PIA): under Part X of the Bankruptcy Act, a personal insolvency agreement results from creditors accepting a debtor’s proposal to settle his or her debts. Unlike debt agreements, personal insolvency agreements are not subject to income, asset or debt thresholds.\r \r Please see our guide to learn more about the provisional personal insolvency statistics