June 2014 bankruptcy filings totaled 73,816 in the United States bringing the nationwide total to 479,362; a 12% decrease from the 544,561 total filings during the same period last year. According to the American Bankruptcy Institute, this is also a 12% decrease from the 83,646 bankruptcy filings in June 2013. In comparison to the 85,664 filings in May 2014, June 2014 filings decreased approximately 14%. ABI Executive Director, Samuel J. Gerdano, was quoted saying, “The steady decline in bankruptcy filings reflects the continued deleveraging of consumers and businesses in a sustained low-interest-rate environment. We expect the decline to continue through the end of 2014.”
In our district, the Eastern District of North Carolina, there were 635 bankruptcy petitions filed in June 2014. Of the 635 petitions filed, there were 187 Chapter 7 filings, 10 Chapter 11 filings, 1 Chapter 12 filing and 437 Chapter 13 filings. In comparison to the 576 bankruptcy filings in the Eastern District of North Carolina in June 2013, June 2014 filings showed an increase of approximately 9%.