According to Epiq Systems, total bankruptcy filings totaled 422,782 nationwide during the first six months of 2015, a 12% decrease from the 479,573 total filings reported during the same period a year ago.

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% 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% decrease from the 3,046 commercial chapter 11 filings during the first six months of 2014.

Total commercial filings for June 2015 were 2,430, representing a 15% decrease from the 2,859 filings during the same period in 2014. Commercial chapter 11 filings registered a 24% drop as the 483 commercial chapter 11 filings in June 2014 fell to 366 in June 2015.

“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.”