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Bankruptcy Filings Increase Across All Chapters in First Quarter 2024

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Yahoo! Finance

New bankruptcy filings during the first calendar quarter of 2024 (Jan. 1 through March 31) registered year-over-year increases across all U.S. major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data.

Michael Hunter, Vice President, Epiq AACER

“As we expected, the upward trajectory in both commercial and individual related bankruptcy filing volumes continue. March marks 20 consecutive months that total, individual, and commercial bankruptcy filings have registered monthly year-over-year increases. Factors contributing to this trend are the higher cost of funds and interest rates, a reduction in consumer discretionary spending, higher housing costs, and a continued drawdown of excess savings. These factors coupled with the post-pandemic anticipated normalization of bankruptcy volumes lead me to believe this upward trend will continue through 2024.”

Read the full article here.

Carrie Trent
Epiq, Director of Communications & Public Relations