Credit: Kenishirotie/Adobe Stock US Bankruptcy Filings Rise 16.2% as Interest Rates, Inflation, and End of COVID Relief Hit Hard
"Two of the biggest factors—inflation and rising interest rates—are unlikely to shift rapidly, even if the new administration tries to address them," Scott A. Underwood, a founding partner at Underwood Murray, said in an interview.
November 07, 2024 at 06:38 PM
3 minute read
The Administrative Office of the U.S. Courts released a note Thursday sharing that personal and business bankruptcy filings rose 16.2% in the 12-month period ending Sept. 30, compared with the previous year.
The U.S. Courts registered over 504,100 annual bankruptcy filings in the year ending September 2024, compared with less than 433,650 cases in the previous year. Business filings rose 33.5%, from about 17,050 to over 22,760 in 2024. And non-business bankruptcy filings rose 15.5% to 481,350, compared with less than 416,610 last year.
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