US bankruptcy case counts expected to continue climbing in 2024: Report
Collection Industry News
JANUARY 6, 2024
US bankruptcy filings rose 18% in 2023 due to higher interest rates, tougher lending standards, and the continued end of pandemic-era support measures, according to data from bankruptcy data provider Epiq AACER. According to the data published on Wednesday, the total bankruptcy filings rose to 445,186 in 2023 from 378,390 in 2022. The report said commercial Chapter 11 business reorganisation filings increased by 72% in 2023, while consumer filings rose by 18%.
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