2023 Bankruptcy Filings: Crunching the Numbers

During the pandemic, bankruptcy filings plummeted. This was the opposite of what many “experts” thought was going to happen. In fact, bankruptcy filings continue to be down significantly from pre-pandemic numbers. Let’s take a look at a few metrics in the Southern District of Ohio:

Year Over Year: Comparing 2023 to 2022

2023:
Chapter 7: 6,331
Chapter 13: 3,060
Total: 9,418 (includes a few chapter 11 cases)

2022:
Chapter 7: 5,353
Chapter 13: 2,679
Total: 8,051 (includes a few chapter 11 cases)

Crunching the numbers: 2022 vs 2023
Chapter 7: Up 18.27%
Chapter 13: Up 14.22%
Total: Up 16.97%

Pre-Pandemic vs. Post-Pandemic: Comparing 2023 to 2019

2023:
Chapter 7: 6,331
Chapter 13: 3,060
Total: 9,418 (includes a few chapter 11 cases)

2019:
Ch7: 11,735
Ch13: 5,305
Total: 17,156 (includes a few chapter 11 cases)

Crunching the numbers: 2019 vs 2023
Chapter 7: down 46.05%
Chapter 13: down 42.31%
Total: down 45.10%

Overall, we’ve seen a significant downturn since 2020, hitting the bottom in 2022, and then a 17% upturn in 2023. Although, still down a whopping 45% since 2019. Amazing numbers to look at, from the nerdy perspective of a bankruptcy lawyer, but also from the broader perspective of someone interested in the US economy.

If you’re one the many Ohioans struggling, find out how bankruptcy can help you solve your debt issues. Call/Text/Email me, attorney Lucas Ruffing to schedule a FREE phone consultation.

Thanks for reading, and happy new year!

Lucas Ruffing, Attorney
740-815-1114 (call/text)
LucasRuffingLaw@gmail.com