November 2013 bankruptcy filings totaled 74,021 in the United States, bringing the nationwide filing total to 965,789 through November 2013. According to the American Bankruptcy Institute, this is a 15% decrease from the 87,090 bankruptcy filings in November 2012. In comparison to last month, November 2013 filings were down 18% from the 89,904 filings in October 2013. ABI Executive Director, Samuel J. Gerdano, was quoted saying, “Tepid consumer spending, sustained low interest rates and the costs of bankruptcy continue to deter consumers and businesses from using the Bankruptcy Code. We are on pace this year for the lowest total new bankruptcies since 2007.”
In our district, the Eastern District of North Carolina, there were 613 bankruptcy petitions filed in November 2013, increasing the yearly total to 7,416. Of the 613 petitions filed, there were 170 Chapter 7 filings, 7 Chapter 11 filings and 436 Chapter 13 filings. In comparison to the 668 bankruptcy filings in the Eastern District of North Carolina in November 2012, November 2013 filings showed a decrease of approximately 8%.