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Bankruptcies in the United States peaked in 2010, when 1.14 million Chapter 7 bankruptcies and 439,000 Chapter 13 bankruptcies were filed. These figures have since dropped to 261,277 and 183,956 respectively in 2023.

Chapter 7 bankruptcies are where the debtor’s assets are liquidated to repay as much debt as possible, while Chapter 13 bankruptcies are where the terms of the loan are changed so that the debt can be repaid over a longer period. Both are predominantly filed by private individuals.

Annual number of bankruptcy cases filed in the United States from 2007 to 2023, by chapter

Characteristic	Chapter 7	Chapter 11	Chapter 13	Other Chapters*
2023	261,277	7,456	183,956	301
2022	229,703	4,762	149,077	268
2021	288,327	4,836	120,002	451
2020	378,953	8,333	156,377	800
2019	483,988	6,808	283,413	731
2018	475,575	7,095	290,146	602
2017	486,347	7,442	294,637	594
2016	490,365	7,292	296,655	648
2015	535,047	7,241	301,705	502
2014	619,069	7,234	310,061	431
2013	728,833	8,980	333,626	493
2012	843,545	10,361	366,532	653
2011	992,332	11,529	406,084	708
2010	1,139,601	13,713	438,913	854
2009	1,050,832	15,189	406,962	692
2008	744,424	10,160	362,762	425
2007	519,364	6,353	324,771	424

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Release date

July 2024

More information

Region

United States

Survey time period

2007 to 2023

Supplementary notes

* Includes cases filed under chapters 9, 12 and 15 as well as Section 304. Value calculated by Statista using figures provided by the source.

Values prior to 2021 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.

Chapter 11 bankruptcy is where the debtor negotiates with their creditors to alter the terms of their repayments. While the terms of the loans are changed, the outstanding debt still needs to be repaid.

Chapter 13 bankruptcy is where debtors propose a repayment plan over a three- to five-year period. It is only available to those with sufficient disposable income to service their debts and allows for the debtor to avoid the sale of their assets to repay their outstanding debt.

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