Total bankruptcy filings in the U.S. decreased 11% in January over last year, according to ABI and Epiq Systems. Bankruptcy filings totaled 78,471 in January 2013, down from the January 2012 total of 88,028.

The total commercial filings in January 2013 also decreased to 3,728, representing a 26% decline from the 5,006 business filings recorded in January 2012. Total commercial chapter 11 filings experienced the largest decrease as the 479 filings fell 36% from the 749 commercial Chapter 11 filings in January 2012.

“Filings continue to be restrained by reduced consumer spending, low interest rates and sustained deleveraging by businesses and households,” said ABI executive director Samuel J. Gerdano. “These trends point to continued declines in bankruptcy filings in 2013.”

Total bankruptcy filings for the month of January increased 4% compared to the 75,583 total filings registered in December 2012. The total noncommercial filings for January also represented a 4% increase from the December 2012 noncommercial filing total of 71,817. The January commercial filing total represented a 1% decline from the December 2012 commercial filing total of 3,765. The January commercial chapter 11 filings represented a 14% decrease when compared to the 559 filings the previous month.