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Record Breaking Bankruptcy Filings Reported

Record Breaking Bankruptcy Filings Reported 2025

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The document reports on record-breaking bankruptcy filings in the U.S. federal courts for the calendar year 2002, totaling 1,577,651 cases, a 5.7% increase from the previous year. Non-business filings made up 97.6% of this total, with Chapter 7 and Chapter 13 being the most common types of bankruptcy filed. The report also highlights the need for new bankruptcy judgeships due to increased caseloads, as no new positions have been created since 1992.

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Did bankruptcy filings rise 16.2 percent?

Bankruptcy is a legal proceeding initiated when a person or business cannot repay outstanding debts or obligations. It offers a fresh start for people who can no longer afford to pay their bills.

What is the record for the most bankruptcies?

Yes, bankruptcy filings in California are public records. These records can be accessed through the court clerks office or online via the Public Access to Court Electronic Records (PACER) system. However, sensitive information like Social Security numbers and account details are redacted to protect privacy.

Are bankruptcy filings on the rise?

ing to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 517,308 in the year ending December 2024, compared with 452,990 cases in the previous year. Business filings rose 22.1 percent, from 18,926 to 23,107, in the year ending Dec. 31, 2024.

Can you see who has filed bankruptcies?

To view bankruptcy case records, you may visit a bankruptcy clerks office. Use the Federal Court Finder to find a location. You may also access bankruptcy case records online through Public Access to Court Electronic Records (PACER). You will need to sign up for a PACER account to search for and view records online.

Are bankruptcy filings increasing?

For Chapter 7 liquidations specifically, the Central District of California reported the highest number at 599 filings, reflecting intense financial pressure in this populous region.