Bankruptcy filings plunge at height of pandemic

Bankruptcy filings are significantly down in the U.S. this year, compared to last. According to the American Bankruptcy Institute, total bankruptcy filings were 42% lower in May 2020 than they were in May 2019, even as commercial Chapter 11 filings increased 48%.

Consumer bankruptcies were down 43% from the same time last year, but up 3% from April 2020.

Type of filingMay 2019 filingsMay 2020 filingsChange from May 2019 to May 2020April 2020 filingsChange from April 2020 to May 2020
Commercial Ch. 11487722+48%562+29%
All commercial filings3,5582,578-28%2,293+12%
Consumer filings65,30237,391-43%36,151+3%
All filings 68,86039,969-42%38,444+4%

Source: American Bankruptcy Institute

States with highest per capita filing rates in May 2020:

  1. Alabama (4.66 filings per 1,000 population)
  2. Tennessee (4.05)
  3. Delaware (3.9)
  4. Mississippi (3.64)
  5. Georgia (3.45)