Chapter 7 Bankruptcy Filings (YoY % Change)
20.1% — up from 8.3% a year ago, all qualifying debt erased because there's nothing left
What is the current Chapter 7 Bankruptcy Filings (YoY % Change)?
Chapter 7 bankruptcy filings — the liquidation type where debtors surrender assets to eliminate debt — rose 20.1% year-over-year in the latest reading. Chapter 7 is the 'last resort' bankruptcy for households with no repayment capacity, making its growth a signal of severe financial distress beyond what loan modifications or payment plans can address. Source: American Bankruptcy Institute / Epiq.
Chapter 7 filings up 20.1% YoY in FY2024 — rebounding from pandemic lows
Filing counts recovering toward pre-pandemic levels after historic lows in 2021-2022.
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How has Chapter 7 Bankruptcy Filings (YoY % Change) changed over time?
| Period | Value | YoY Change |
|---|---|---|
| Q3 2024 | 20.1% | +11.8 pts |
| Q3 2023 | 8.3% | +34.3 pts |
| Q3 2022 | -26% | −1.9 pts |
| Q3 2021 | -24.1% | −9.5 pts |
| Q3 2020 | -14.6% | −14.9 pts |
| Q3 2019 | 0.3% | — |
Frequently Asked Questions
How fast are Chapter 7 filings growing?
Chapter 7 bankruptcy filings increased 20.1% year-over-year in the latest data, indicating accelerating financial distress among households with no ability to repay debts.
What is Chapter 7 bankruptcy?
Chapter 7 is liquidation bankruptcy — debtors surrender non-exempt assets and most debts are discharged. It is chosen by households too financially distressed to enter a repayment plan (Chapter 13).
Where does this data come from?
Published by the American Bankruptcy Institute based on Epiq court filing data, tracked monthly.
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