September 2021 New Bankruptcy Filings Mixed
Individual Chapter 7’s Down 9%, Individual Chapter 13’s Up 6%
NEW YORK – October 4, 2021 – Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its September 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. Overall, September new filings for all chapters were down 4% or 30,907 month-over-month, down from 32,263 in August 2021. Total individual chapter 13 filings are up 6% over August, with 9,930 new cases. Total individual chapter 7 filings are down 9% over August, with 19,230 cases. Total commercial chapter 11 new filings are also down 6% over August, with 247 new cases.
Individual Chapter 7 new filings have decreased each month since March 2021 while individual Chapter 13 filings have increased each month starting in May.
The 2021 total open bankruptcy cases which include cases closed plus new cases filed this year continue to slide. September ended at 773,652 open cases, down 11% or 98,556 cases from the start of 2021.
“The bankruptcy new filings volume and chapter mix trends will likely change over the coming months with the Federal and State programs like the eviction moratorium expiring on September 30, 2021,” said Todd Madsen, senior director of Epiq Bankruptcy Analytics. “However, numerous states like California have rent reimbursement programs, with funds in place that will continue to ward off new bankruptcy filings as moratoriums expire.”
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