Total bankruptcy filings totaled 422,782 nationwide during the first six months of 2015 (Jan. 1-June 30), a 12 percent decrease from the 479,573 total filings reported during the same period a year ago, according to data provided by Epiq Systems, Inc. The 407,764 total noncommercial filings for the first half of 2015 represented a 12 percent drop from the noncommercial filing total of 460,931 for the first half of 2014.

Total commercial filings during the first six months of the year were 15,018, representing a 19 percent decrease from the 18,642 filings during the same period in 2014. Commercial chapter 11 filings also fell during the first half of 2015 as the 2,576 filings represented a 15 percent decrease from the 3,046 commercial chapter 11 filings during the first six months of 2014.

“Bankruptcy filings through the first half of the year continue to recede amid sustained low interest rates and flat consumer debt levels,” said ABI Executive Director Samuel J. Gerdano. “Total bankruptcies remain on a pace to total just over 800,000 for 2015.”

The 69,723 total bankruptcy filings for the month of June represented a 6 percent decrease compared to the 73,855 filings in June 2014. The 67,293 total noncommercial filings for June represented a 5 percent drop from the June 2014 noncommercial filing total of 70,996. Total commercial filings for June 2015 were 2,430, representing a 15 percent decrease from the 2,859 filings during the same period in 2014. Commercial chapter 11 filings registered a 24 percent drop as the 483 commercial chapter 11 filings in June 2014 fell to 366 in June 2015.

The average nationwide per capita bankruptcy filing rate for the first six calendar months of 2015 (Jan. 1-June 30) decreased slightly to 2.72 (total filings per 1,000 per population) from the 2.73 rate for the first five months of the year, and the average total filings per day in June 2015 were 2,324, a 6 percent decrease from the 2,462 total daily filings in June 2014. States with the highest per capita filing rate (total filings per 1,000 population) through the first six months of 2015 were:

• Tennessee (5.68)
• Alabama (5.20)
• Georgia (4.89)
• Illinois (4.51)
• Utah (4.40)

ABI has partnered with Epiq Systems, Inc. in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq Systems is a leading provider of managed technology for the global legal profession.