April Bankruptcy Filings Fall 16 Percent from Same Time Last Year

Total bankruptcy filings in the United States in April 2012 decreased 16 percent compared to the previous year, according to the American Bankruptcy Institute.

The group said that April bankruptcy filings totaled 108,865, down from the 129,815 filings in April 2011. Consumer bankruptcy filings fell 16 percent to 103,733, while commercial filings plunged 25 percent to 5,132.

“Families and business continue to cut costs to improve their financial stability,” said ABI Executive Director Samuel J. Gerdano. “As consumers and business remain committed to bolstering their balance sheets, bankruptcy filing rates will continue to decrease.”

Total bankruptcy filings in April 2012 decreased 11 percent from the March 2012 total of 122,155.

The average nationwide per capita bankruptcy-filing rate for the first four calendar months of 2012 (Jan. 1-April 30) increased to 4.10 (total filings per 1,000 per population) from the 4.06 rate for the first three months of the year, and the average total filings per day in April 2012 registered 3,629, a 16 percent decrease from the 4,327 total filings in April 2011.

States with the highest per capita filing rate through the first four months of 2012 were:

1. Nevada (7.04)
2. Tennessee (7.04)
3. Georgia (6.62)
4. Utah (6.02)
5. Alabama (5.84)