Bankruptcy filings declined by nearly twelve percent in 2011 from the year before. There were approximately 1.4 million bankruptcies filed overall. Roughly seventy percent of those filed cases were Chapter 7 Bankruptcy cases and about a third were Chapter 13 cases. While both Chapter 7 and Chapter 13 filings declined, Chapter 7 filings declined more than Chapter 13s.
Bankruptcy Filings Decline Nationally for 2011