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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.

The Justice Department today announced the retirement of Clifford White, the Director of the Justice Department’s U.S. Trustee Program (USTP), effective March 31, 2022.

According to the latest AIS Insight report, December bankruptcies totaled 27,946, reflecting a slight decline from the previous month and an 18.61% decrease for the same time period in 2020. December recorded the lowest monthly filings total since January 2006. Total filings across all chapters for the year of 2021 totaled 401,398, down 24.13% from the 529,173 filed in 2020. Excluding pre-COVID pandemic activity, it was noted that March – December 2021 filing totals were 18.56% lower than the same 10-month span in 2020.

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.

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.

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.

According to the latest AIS Insight Report, August bankruptcy filings totaled 32,261. This reflects a slight decrease (0.39%) from the previous month and an 18% decrease compared to August 2020. This also marked the lowest number of total filings in August in over 20 years, as well as a 51% drop from pre-pandemic numbers in August 2019.

On August 3rd, the Senate Judiciary Committee held a hearing on the dischargeability of student loans in bankruptcy. At the hearing, Senator Durbin (D-Ill) and Senator Cornyn (R-Texas) introduced the ‘‘FRESH START Through Bankruptcy Act.’’ The hearing focused on the perceived need to provide debt relief to student borrowers. Learn more about the hearing and when the Senate may attempt to pass the Act.

According to the latest AIS Insight Report, July bankruptcy filings totaled 32,327. This reflects a slight decrease (5.68%) from the previous month and a 25.72% decrease compared to July 2020. Continuing a trend we’ve seen since May, our most recent report reveals the lowest filing totals dating back to 1985. 

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.

According to the latest AIS Insight Report, May bankruptcy filings totalled 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.

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. In addition, we observed a 12% increase in Chapter 7 bankruptcies and a 1.6% decrease in Chapter 13 bankruptcies when compared to the same month in the previous year.

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.

According to the latest AIS Insight Report, February bankruptcy filings totaled 31,208, breaking the record as the lowest monthly total of filings since January 2006.

According to the latest AIS Insight Report, January bankruptcy filings totaled 32,326, breaking December’s record as the lowest monthly total of filings since January 2006. January also marked the greatest decrease in year-over-year monthly filings since April 2020, when COVID-19 shutdowns were implemented across the country.

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. 

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.

Senate Bill 2064, the Electronic Court Reform Act of 2019 (the “Act”), was originally introduced by U.S. Senators Rob Portman (R-OH), Ron Wyden (D-OR), Ted Cruz (R-TX), and Mazie Hirono (D-HI) in July 2019. Now, it may be finding its way into a new funding package.

The Federal Housing Finance Agency (FHFA) has extended the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least January 31, 2021. The foreclosure moratorium applies to mortgages backed by Fannie Mae and Freddie Mac only.

What could a Biden presidency mean for the financial services industry? Experts believe a Consumer Financial Protection Bureau (CFPB) leadership change is among the administration’s top priorities. According to insiders, the Biden Administration is likely to revert back to a more aggressive Obama-era approach.