Total commercial filings during the first six months of the year were 18,492, representing a 22% decrease from the 23,569 filings during the same period in 2013, according to data provided by Epiq Systems. Commercial Chapter 11 filings also fell during the first half of 2014 as the 3,009 filings represented a 13% decrease from the 3,454 commercial Chapter 11 filings during the first six months of 2013.

“The steady decline in bankruptcy filings reflects the continued deleveraging of consumers and businesses in a sustained low-interest-rate environment,” said ABI Executive Director Samuel J. Gerdano. “We expect the decline to continue through the end of 2014.”

The 73,816 total bankruptcy filings for the month of June represented a 12 percent decrease compared to the 83,646 filings in June 2013. The 71,003 total noncommercial filings for June represented an 11 percent drop from the June 2013 noncommercial filing total of 80,160. Total commercial filings for June 2014 were 2,813, representing a 19% decrease from the 3,486 filings during the same period in 2013. Commercial chapter 11 filings registered a 3 percent drop as the 498 commercial Chapter 11 filings in June 2013 fell to 481 in June 2014.

The average nationwide per capita bankruptcy filing rate for the first six calendar months of 2014 decreased slightly to 3.09 (total filings per 1,000 per population) from the 3.13 rate for the first five months of the year, and the average total filings per day in June 2014 were 2,461, a 12% decrease from the 2,788 total daily filings in June 2013. States with the highest per capita filing rate (total filings per 1,000 population) through the first six months of 2014 were:

1. Tennessee (6.25)
2. Alabama (5.23)
3. Georgia (5.23)
4. Utah (4.94)
5. Illinois (4.93)

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