25https://www.aisinfo.com/blog/2021/11/ais-insight-blog-october-2021
October Bankruptcies Down 22% from 2020, Chapter 13s Up 32% Since May
11/08/2021 08:00 AM Posted by: AIS

November 8th, 2021

OCTOBER INSIGHT REPORT

 

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. Total consumer filings are down 24.93% YTD while commercial filings have decreased 40.20% YTD. The slight increase (1.81%) from September to October is in line with the seasonality we see each year with filings.

 

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Our analysis of Chapter 13 and Chapter 7 bankruptcies reveals that numbers continue to stay below historical averages (Figure 4). However, as we mentioned, the 11,161 Chapter 13 filings in October represent a 8.70% increase from the previous month and a 32.47% since May (Figure 4). This is the fifth consecutive month that we have seen a rise in chapter 13s. Chapter 7 filings in October represent a 1.77% decrease from the previous month (Figure 4). 

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Figure 4

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For the month of October 2021, Chapter 11 filings increased 17.7% from September 2021 totaling 293 (Figure 7). In addition, Chapter 11, Subchapter V filings increased 6.1% from September 2021 totaling 98 (Figure 7). However, when comparing the monthly totals to October 2020, we observed a 44% decrease in Chapter 11 filings and a 31% decrease in Chapter 11, Subchapter V filings (Figure 7).

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Figure 7

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Figure 8

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Figure 9

The highest percentage of bankruptcies for October 2021 came from the South (East) (29%), followed by North Central (East) (20%), South (West) (15%), Pacific (13%), Northeast (11%), North Central (West) (6%) and Mountain (6%) regions of the country (Figure 10).

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Figure 10

To download the October Insight Report, click here.

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