February Total Bankruptcy Filings Decrease 3 Percent from Previous Year, Chapter 11s Up Slightly

According to a recent press release from the American Bankruptcy Institute,

Total bankruptcy filings for the month of February 2018 decreased 3 percent from last year, according to data provided by Epiq Systems, Inc. The 56,694 total filings in February 2018 were down from the 58,392 total filings during in February 2017. Consumer filings also decreased 3 percent in February 2018 to 53,899 from the February 2017 consumer filing total of 55,526. Total commercial filings decreased slightly in February 2018 to 2,795, representing a 2.5 percent decrease from the 2,866 business filings recorded in February 2017. The 425 total commercial chapter 11 filings in February 2018 represented an increase of 4 percent from February 2017’s total of 407.