April 2014 bankruptcy filings totaled 87,954 in the United States. According to the American Bankruptcy Institute, this is a 13% decrease from the 100,770 bankruptcy filings in April 2013. In comparison to last month, April 2014 filings decreased approximately 4% from the 91,253 filings in March 2014. ABI Executive Director, Samuel J. Gerdano, was quoted saying, “Sustained low interest rates for business borrowers, sluggish consumer spending and the high costs associated with filing for bankruptcy have kept the filing rates below normal.”
In our district, the Eastern District of North Carolina, there were 648 bankruptcy petitions filed in April 2014, bringing the year to date filing total to 2,458. Of the 648 petitions filed, there were 205 Chapter 7 filings, 8 Chapter 11 filings and 435 Chapter 13 filings. In comparison to the 762 bankruptcy filings in the Eastern District of North Carolina in April 2013, April 2014 filings showed a decrease of approximately 15%.