September 2013 bankruptcy filings totaled 80,645 in the United States, bringing the nationwide filing total to 801,783 through September 2013. According to the American Bankruptcy Institute, this is a 8% decrease from the 87,599 bankruptcy filings in September 2012. In comparison to last month, September 2013 filings were down 9.3% from the 88,902 filings in August. ABI Executive Director, Samuel J. Gerdano, was quoted saying, “Sustained low interest rates and sluggish consumer spending since the financial crisis have suppressed bankruptcy filings to 2008 levels. Some individuals are too broke to afford the cost to file for bankruptcy.” In 2008, there were a total of 1,117,771 bankruptcy filings nationwide.
In our district, the Eastern District of North Carolina, there were 617 bankruptcy petitions filed in September 2013, increasing the yearly total to 6,113. Of the 617 petitions filed, there were 183 Chapter 7 filings, 19 Chapter 11 filings and 415 Chapter 13 filings. In comparison to the 708 bankruptcy filings in the Eastern District of North Carolina in September 2012, September 2013 filings showed a decrease of approximately 13%.