Number of Chapter 7 bankruptcy filings in the U.S. by debtor 2007-2019

Chapter 7 bankruptcies in the United States peaked in 2010, when 1.1 million non-business and 39,485 business claims were filed under Chapter 7 of the Bankruptcy Code. In 2019 these figures had dropped to 469,000 and 14,524 respectively.

Chapter 7 bankruptcy is when the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold.

Annual number of Chapter 7 bankruptcy cases filed in the United States from 2007 to 2019, by debtor

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Source

Release date

December 2019

Region

United States

Survey time period

2007 to 2019

Supplementary notes

Values prior to 2019 taken from previous reports.

Chapter 7 bankruptcy is the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold.

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Statistics on "Bankruptcy in the U.S."

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