Q3 2013 U.S. Bankruptcy Filings Statistics Released – Filings Down Significantly
Third quarter 2013 U.S. bankruptcy filings statistics, recently released on uscourts.gov, show total filings down 13% from Q3 of 2012, and down 37% from Q3 of 2010.
In September 2013 alone, total filings dropped 10% from the previous month, and are down 21% from the year’s peak filing month in March. LeadQ does not see the trend reversing in the fourth quarter.
October Inquiries to Bankruptcy Attorneys Drop During Government Shutdown
In October, during the U.S. federal government shutdown, LeadQ saw the pace of new inquiries to bankruptcy attorneys drop as much as 50% in some markets.
While inquiry levels returned to a pre-shutdown pace as of Wednesday afternoon, October 16 (when a budget agreement to reopen the government was first announced), the impact will certainly be seen in Q4 filing statistics.
Fourth Quarter Filings Predicted to be on Par with Pre-Recession Numbers
Combined with the current backlog of cases in U.S courts as a result of the shutdown, LeadQ sees total October filings may drop by as much as 25% over September levels. Total Q4 U.S. filings may therefore come in around 220,000 — about the same as pre-recession levels in December, 2007.
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