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Record Breaking Bankruptcy Filings Reported

Record Breaking Bankruptcy Filings Reported 2026

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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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Click ‘Get Form’ to open it in the editor.
Begin by reviewing the introductory section, which provides an overview of bankruptcy filings for the year 2002. This context is essential for understanding the data presented.
Fill in your personal information in the designated fields, ensuring accuracy as this data may be used for further analysis or reporting.
Navigate to the sections detailing bankruptcy filings by chapter. Here, you can input specific figures related to Chapter 7, Chapter 11, and Chapter 13 filings as applicable.
Review the charts and tables included in the document. Use our platform's annotation tools to highlight key statistics or add comments for clarity.
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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the 3-year 2-year 240 day rule?

3-Year Rule: The tax debt must be from a return that was due at least three years before the bankruptcy filing. 2-Year Rule: The return itself must have been filed at least two years before filing for bankruptcy. 240-Day Rule: The IRS must have assessed the taxes at least 240 days prior to the bankruptcy filing.

What cannot be wiped out by bankruptcies?

Types of debt that cannot be discharged in bankruptcy include alimony, child support, and certain unpaid taxes.

What is the 3 year rule for bankruptcy?

The 3-Year Rule: Waiting Period for Tax Return Due Dates This rule means that the tax debt must be tied to a return that was due three years before the date you file for Chapter 7 bankruptcy. If an extension was filed for that tax return, then the 3-year clock starts from the extended due date.

Why do billionaires file bankruptcies?

A billionaire can go bankrupt for several reasons, often stemming from financial mismanagement, market fluctuations, or poor investment decisions. Here are some common scenarios that can lead to bankruptcy: High Debt Levels: Billionaires may take on docHub debt to finance investments or business operations.

What are the exceptions to the 3-year refund rule?

The time period for filing a claim for refund may be different if your claim was filed regarding an exception, like a bad debt or worthless security. Periods of financial disability may suspend the time limitation for making a refund claim too.

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