News & Press: Newswire

Bankruptcy Filings at Historic Lows But Expected to Rise

Monday, July 24, 2017   (0 Comments)
Posted by: Amy Tieperman
Share |

Bankruptcy Filings at Historic Lows But Expected to Rise

 

The number of bankruptcies filed from July 1, 2016 through June 30, 2017 fell 2.8 percent from the previous year with 20,758 less Chapter 7 filings, 929 less Chapter 11 filings, and 1,460 less Chapter 13 filings compared to last year. 

 

          The drop in filings is attributed mostly to the drop in unemployment and the continued historically low interest rates.  However, with the prospect of increased interest rates in the near future as well as trouble in the car finance market the bankruptcy filings are expected to increase in the next 12 month period. 



    CONTACT

    Commercial Law League of America

    1000 N. Rand Rd., Suite 214
    Wauconda, IL 60084

    Phone: (312) 240-1400    |   Fax: (847) 526-3993

    info@clla.org

CONNECT