Bankruptcy Filings Increase 

Total bankruptcy filings in the U.S. increased 19 percent in February over last month, according to new American Bankruptcy Institute. Bankruptcy filings totaled 104,418 in February, up from the 87,981 filings in January 2012. Filings per day rose 27 percent to 3,601 from 2,838 in January. The 99,288 total noncommercial filings in February 2012 represented a 20 percent increase over the January 2012 total of 83,014. The total commercial filings of 5,130 for February 2012 increased three percent over the 4,967 filings in January 2012.

When compared to a year earlier, the Epiq data showed that the total February 2012 filings decreased five percent from the February 2011 total of 109,565. The total commercial filings for February 2012 fell 16 percent from the 6,076 commercial filings recorded in February 2011. Total noncommercial filings registered a four percent increase from the 103,489 filings in February 2011.

The average nationwide per capita bankruptcy-filing rate for the first two calendar months of 2012 (Jan. 1 – Feb. 29) increased to 3.73 (total filings per 1,000 per population). States with the highest per capita filing rate (total filings per 1,000 populations) for the first two months of 2012 were:

1. Tennessee (6.93)
2. Nevada (6.29)
3. Georgia (6.28)
4. Alabama (5.58)
5. California (5.28)

Source: ACA International