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Bankruptcy filings down in 2011

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Bankruptcy filings in the federal courts fell 11.5 percent in calendar year 2011, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the twelve-month period ending Dec. 31 totaled 1,410,653, down from 1,593,081 bankruptcies filed in 2010. Last year was the first calendar year to show a decrease in total filings since 2006. The majority of bankruptcy filings involved non-business debts; that category was down 11.3 percent from 2010. Business filings totaled 47,806, down 15.1 percent from the 56,282 business filings in 2010.

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