Bankruptcy Filings Down Nearly 12% in 2014; ARM Firms Well-Represented in Cases

The 2014 “Year in Review” issue of AIS InSight released last month showed that U.S. bankruptcy filings in 2014 totaled 909,968, down 11.89% from the previous year.

Of the Top 50 Creditors listed in bankruptcy filings for 2014, 13 were debt buyers and/or collection agencies. Accounts receivable management firms were named in 15 percent of listings attributed to the Top 50 organizations.

The AIS InSight Report is published by the bankruptcy data experts at American InfoSource and covers bankruptcy filings from January 1 – December 31, 2014.

Click here to view the 2014 Year in Review Issue of AIS InSight

The Bankruptcy Code requires a debtor to list and give notice to all creditors when filing for bankruptcy protection. Large credit card issuers and consumer lenders, as well as government entities, are the most commonly-listed creditors in bankruptcy filings.

Debt buyer Encore Capital Group was ranked the highest among ARM companies, with 252,653 listings in 191,293 cases. Portfolio Recovery Associates followed with 186,717 listings and Enhanced Recovery Corporation came in third with listings totaling 120,091.

Below is a table with the ARM companies who finished in the Top 50 Creditors Listed in 2014 Bankruptcies:

Each month, AIS InSight delivers critical bankruptcy statistics to many of the largest financial institutions in the country, as well as card issuers, auto finance groups, mortgage servicers, healthcare systems, telecom, utilities, and ARM companies.

Along with a Top 50 Creditors Listed in Bankruptcies, AIS InSight’s “Year in Review” issue features:

• Annual Bankruptcy Snapshot including Ch7 and Ch13 volumes
• Top 50 Creditors Filing Claims and Amount Filed
• Projected Bankruptcy Filing Trends

If you would like to receive AIS InSight on a monthly basis, please click here.