Small Business Subchapter V Is Doing Exactly What Congress Intended
07/26/2022 09:00 AM Posted by: AIS InfoSource
The SBRA became effective in February 2020, just a month before much of the country shut down due to COVID. In an effort to assist more businesses facing economic hardships caused by the pandemic, Congress quickly expanded SBRA to cover businesses with up to $7.5 million in debt. The early results of SBRA were favorable and those trends have continued.
June 2022 Insight Report
07/12/2022 03:13 PM Posted by: AIS InfoSource
Bankruptcy filings have been at historic lows since the beginning of the COVID pandemic in 2020. But deteriorating national economic conditions and recent chapter 13 filing data suggest that bankruptcy increases may be on the horizon.
Siegel v Fitzgerald and Its Potential Implications
06/13/2022 09:00 AM Posted by: AIS InfoSource
The United States Supreme Court recently decided the case of Siegal v. Fitzgerald-- and for only the second time in history-- struck down a bankruptcy law on the seemingly technical ground that a fee imposed on chapter 11 debtors violated the constitutional requirement that bankruptcy laws be uniform. Although the issue may seem somewhat esoteric, its implications may be far-reaching, especially for creditors in Alabama and North Carolina.
Chapter 11 Filings Increase 26% in May
06/09/2022 03:13 PM Posted by: AIS InfoSource
Bankruptcy filings totaled 31,292 in May, down 3.79% from April. May filings marked a 10.05% decrease year over year when compared to the 34,789 seen in May 2021. Chapter 11 filings were up 26.01% from April and 21.50% from the same month last year. Furthermore, Chapter 11, Subchapter V filings totaled 122, revealing a 22% increase from April 2022 and a 6.09% increase from May 2021.
April 2022 Reveals 20 Percent Decrease in Total Filings Over Same Period Last Year
05/05/2022 03:13 PM Posted by: AIS InfoSource
According to the latest AIS Insight Report, April filings totaled 32,523, down 9.70% from the previous month and down 20.46% from April 2021. In addition, April 2022 marks a 30.76% increase in Chapter 13 filings when compared to April 2021.
March 2022 Reveals Largest Number of Total Filings in 10 Months
03/03/2022 03:13 PM Posted by: AIS InfoSource
According to the latest AIS Insight Report, March filings totaled 36,015, up 33.40% from the previous month and down 17.11% from March 2022. Although this is the lowest number of total filings for the month of March in over 20 years, March 2022 marks the largest number of filings since April 2021.
Chapter 13s Up 25% from February 2021
03/03/2022 03:13 PM Posted by: AIS InfoSource
According to the latest AIS Insight Report, February filings totaled 26,997, up 3% from the previous month and down 13.54% from February 2021. Over the last four months, Chapter 13’s have remained relatively flat, averaging approximately 10,600 filings per month. However, February’s count reached 10,669 which showed a 24.91% increase from the same month last year.
Chapter 13 Filings Continue to Grow in January
02/07/2022 03:13 PM Posted by: AIS InfoSource
According to the latest AIS Insight Report, January filings totaled 26,203, down 6.24% from the previous month and 18.97% from January 2021. This marks the lowest number of filings for the month of January in more than 20 years. Chapter 7 filings (15,182) continue to decline for the 10-consecutive month while Chapter 13s accounted for 40.93% of all filings, an increase of 12.75% from January 2021.
December 2021 Bankruptcy Filings Continue to Decline
01/05/2022 08:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight report, December bankruptcies totaled 27,946, reflecting a slight decline from the previous month. This is the lowest total filings since January 2006. December 2021 marks two full years of bankruptcy data during the COVID-19 pandemic. According to the AIS Insight report total filings across all chapters for the year of 2021 totaled 401,398. When compared to 2020, it was noted that total bankruptcies were down 24.13%.
November Bankruptcies Down 15% from 2020, While October to November Seasonality Remains Consistent
12/06/2021 08:00 AM Posted by: AIS InfoSource
AIS reports that November bankruptcy filings totaled 29,301, marking a year-over-year decrease of 15.05% and a 47.67% decrease when compared to pre-pandemic data (November 2019). Through November 2021 bankruptcy filings for all chapters totaled 407,784, down 25.56% over the same period last year. The slight decrease (6.93%) from October to November is in line with the seasonality we see each year with filings.
October Bankruptcies Down 22% from 2020, Chapter 13s Up 32% Since May
11/08/2021 08:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, October bankruptcy filings totaled 31,483, marking a year-over-year decrease of 21.76% and a 53.57% decrease when compared to pre-pandemic data (October 2019). The 11,161 chapter 13 filings in October represent a 8.70% increase from the previous month and a 32.47% since May. This is the fifth consecutive month that we have seen a rise in chapter 13s.
Chapter 13s Continue to Rise as Bankruptcies Remain at Historic Lows
10/05/2021 08:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, September bankruptcy filings totaled 30,914, marking a year-over-year decrease of 22% and a 49% decrease when compared to pre-pandemic data (September 2019). This is the lowest September number we have seen in over 20 years and the smallest monthly total since January 2006.
Bankruptcy Filings Hit 20-Year Low for Month of June
07/06/2021 08:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, June bankruptcy filings totaled 34,269. This reflects a slight decrease (1.45%) from the previous month and a 19.22% decrease compared to June 2020. Similar to what we saw in May, our most recent report reveals the lowest filing totals for the month of June in more than 20 years. Our analysis also shows that year-to-date filings (216,995) mark the lowest January-June total in over two decades.
Bankruptcy Filings Reach Lowest Monthly Total for May in Over 20 Years
06/08/2021 08:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, May bankruptcy filings totaled 34,770. This reflects a 14% decrease from the previous month and a 13% decrease compared to the same month last year. Overall, data continues to confirm that 2021 is an unusual year. Our analysis reveals May 2021 filings have reached the lowest monthly total in more than 20 years.
April 2021 Bankruptcy Filings Mark Highest Year-Over-Year Increase Since 2010
05/06/2021 10:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, April bankruptcy filings totaled to 40,888. Although we observed a slight decrease from the previous month, this marks a 6% increase from total filings in the same month last year (Figure 1 & 2). This is the largest year-over-year rise in total monthly filings since June 2010 and the first year-over-year increase since February 2020.
March 2021 Bankruptcy Filings Spike to Highest Level in 12 Months
04/12/2021 10:00 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, March bankruptcy filings totaled 43,450 spiking to the highest level in 12 months. This marks the largest month over month increase since the pandemic started in March 2020. While March historically yields the highest volume of filings each year, March 2021 marked the lowest March total in over 20 years. However, this increase is worth monitoring, as rates could be slowing trending back to pre-pandemic averages.
December Bankruptcy Filings Hit 14 Year Low
01/06/2021 09:11 AM Posted by: AIS InfoSource
According to the latest AIS Insight Report, December bankruptcy filings totaled to 34,298, breaking November’s record as the lowest monthly total of filings since January 2006. With a new COVID-19 relief package and the extension of the federal moratorium on foreclosures and evictions, experts believe bankruptcies could remain below historic averages until these programs conclude.
New COVID-19 Relief Package Provides Updates to Bankruptcy Provisions
12/22/2020 04:00 PM Posted by: AIS InfoSource
In addition to stimulus payments, jobless aid, and PPP funding, the new $900 billion COVID-19 relief package also temporarily amends various sections of the Bankruptcy Code to provide further relief to businesses and individuals directly impacted by the pandemic. What bankruptcy provisions are included in the bill?
November Bankruptcy Filings Hit 14 Year Low
12/03/2020 09:11 AM Posted by: AIS InfoSource
November bankruptcy filings totaled 34,470, marking the lowest monthly total in nearly 15 years. The drastic decline in filings can be attributed to stimulus checks, unemployment benefits, and mortgage and student loan deferments.
Bankruptcy Filings Continue to Fall Despite Pandemic, Unemployment
11/03/2020 09:11 AM Posted by: AIS InfoSource
Bankruptcy filings continue to fall despite pandemic and high unemployment. According to our year-over-year analysis, filings are down 40.76% from October 2019. Although we are still well below averages, we did see a slight uptick from the previous month. As confirmed by The Wall Street Journal, we anticipate challenges in the coming months that could lead to an increase in filings.
September Bankruptcy Filings Increase For First Time Since 2009
10/05/2020 04:00 PM Posted by: AIS InfoSource
According to the latest AIS Insight Report, September bankruptcies totaled to 39,699 reflecting a slight uptick from the previous month. This marks the first increase from August to September since 2009. However, filings were still down 35% from September 2019. A year-over-year analysis indicated that total Chapter 11 filings increased by 73%. This is by far the highest year-over-year monthly increase in 2020.
Chapter 11 Bankruptcy Filings Up 28% in August
09/04/2020 04:00 PM Posted by: AIS InfoSource
According to the latest AIS Insight Report, bankruptcy volumes remain below historical averages. In August, bankruptcies totaled to 39,349, representing a 8.22% decrease from the previous month and a 40.8% decrease from August 2019. Year to date, filings are down by 26.76%.
Bankruptcy Volumes Remain Historically Low
08/06/2020 04:00 PM Posted by: AIS InfoSource
In the latest AIS Insight Report, July bankruptcies totaled 42,839, representing a .99% increase from the previous month and a 33% decrease from July 2019. Although bankruptcies rose for a second consecutive month, volumes remain below historical averages.
Bankruptcies Continue to Decline, Steep Rise in Chapter 7 Filings
07/06/2020 04:00 PM Posted by: AIS InfoSource
This month’s AIS Insight report shows that bankruptcies in the month of June totaled 42,411 representing a 30.56% decrease from the 61,078 filed in June 2019. June marked the fourth consecutive month of declining bankruptcy volumes, compared to the same time period in 2019. The report also illustrates a steep rise in Chapter 7 bankruptcies, which now account for nearly 75% of all filings.
New Bankruptcy Law Can Protect Small Businesses from Defaulting on Federal Loans
06/25/2020 04:00 PM Posted by: AIS InfoSource
With the recent economic impact of COVID-19, small businesses have suffered tremendously. For those who wish to avoid default, experts suggest that small businesses consider bankruptcy protection. Under the Small Business Reorganization Act, enacted in February 2020, Chapter 11 bankruptcy offers a favorable option by lowering costs, simplifying procedures, and providing greater flexibility in plan confirmation requirements to help small businesses regain control of their operations.
U.S. Initial Unemployment Claims Continue to Fall; Big Obstacles Still Lie Ahead
06/12/2020 04:00 PM Posted by: AIS InfoSource
According to the Labor Department, the number of people seeking unemployment benefits declined to 1.5 million (week ended June 6). This marks the tenth consecutive week of declining claims.The number of Americans currently receiving unemployment benefits appears to have stabilized, totaling 20.9 million (week ended May 30). However, "continuing claims” remain at a historic level, 14.3 million above the previous record in 2009.
May Marks Third Consecutive Month of Declining Bankruptcies
06/11/2020 04:00 PM Posted by: AIS InfoSource
In the latest AIS Insight report, bankruptcies for the month of May totaled 39,961 representing a 41.94% decrease from the 68,829 filed in May 2019. Making it the third consecutive month of declining bankruptcy volumes, compared to the same time period in 2019. Although, chapter 11 bankruptcies increased by 42% in May to 758 filings.
Understanding CARES Amendments and the Small Business Bankruptcy Act of 2019
05/19/2020 04:00 PM Posted by: AIS InfoSource
With the economic crisis created by COVID-19, Congress has passed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act”). Along with wide sweeping financial aid, the CARES Act amends the newly created Small Business Reorganization Act of 2019, subchapter 8 of Chapter 11, substantially increasing the financial scope of the streamlined procedures of subchapter 8 and the amendments to Chapter 13.
April Job Losses Produce Largest Monthly Decline Since 1939
05/12/2020 04:00 PM Posted by: AIS InfoSource
April’s employment report, as released by the U.S. Department of Labor on May 8th, proved that COVID-19 has caused a serious setback to the U.S. economy. The April unemployment rate rose to a record 14.7% totaling to 20.14 million jobs lost.
Bracing for Surge In Small Business Bankruptcies
05/08/2020 04:00 PM Posted by: AIS InfoSource
The bankruptcy industry is preparing for a spike in small business bankruptcies triggered by the coronavirus pandemic and slow economic growth over the past decade. According to a poll by the U.S. Chamber of Commerce, more than 40 percent of the nation’s 30 million small businesses could close within the upcoming months.
The COVID-19 Pandemic's Impact on Bankruptcy Volumes
04/14/2020 04:00 PM Posted by: AIS InfoSource
Based on historic trends, when annual unemployment rates increase, bankruptcy filings will follow. AIS Law expects a surge in bankruptcies in late 2020 and early 2021. With multiple relief programs put in place to slow the impact, one could anticipate a lag. However, now is the time to start preparing.
April Bankruptcy Filings Down 46% from 2019
04/14/2020 04:00 PM Posted by: AIS InfoSource
AIS data shows April bankruptcy filings have decreased 46%, from bankruptcies filed in the same month last year. Bankruptcy filings totaled to 38,421 in April 2020, whereas the total number was 71,284 in April 2019. However, an increase of 28% was recorded in commercial chapter 11 filings, which rose from 462 filings in April 2019 to 592 in April 2020.
202207July2July 2022 (2)
202206June2June 2022 (2)
202205May1May 2022 (1)
202203March2March 2022 (2)
202202February1February 2022 (1)
202201January1January 2022 (1)
202112December1December 2021 (1)
202111November1November 2021 (1)
202110October1October 2021 (1)
202107July1July 2021 (1)
202106June1June 2021 (1)
202105May1May 2021 (1)
202104April1April 2021 (1)
202101January1January 2021 (1)
202012December2December 2020 (2)
202011November1November 2020 (1)
202010October1October 2020 (1)
202009September1September 2020 (1)
202008August1August 2020 (1)
202007July1July 2020 (1)
202006June3June 2020 (3)
202005May3May 2020 (3)
202004April2April 2020 (2)