The United States Courts system has just released its quarterly reports showing that national bankruptcy filings are down by 12 percent on average. In the state of Florida, the average decrease in filing stands at 13 percent, totally consistent with the overall national picture. This first quarterly report for 2015 compares filings at this time of the year with those of last year. If one looks at a 5 year trend, bankruptcy filings are down again, for the last 5 years going, both nationally and in Florida.
The quarterly reports efficiently compile bankruptcy statistics from all federal bankruptcy courts. It also shows them according to the state of filing, the district in which it is filed, and the county of filing. As to Florida bankruptcy cases, the reports compile bankruptcy filings in the three districts: the Southern district bankruptcy court, the Middle district bankruptcy court and the Northern district bankruptcy court. Moreover, the reports as compiled, show the overall national picture as to bankruptcy filings and also differentiate bankruptcy statistics on the type of bankruptcy cases filed (whether business and non-business). Lastly, the reports also compare cases filed from 2014 and from 2015 according to whether they were either commenced, terminated or pending.
These statistics are important on their face, as they may relate to the way the economy is going. In short, it seems the national and Florida economy may be getting better. An ordinary person may think that it may be reasonable to say that looking at the number of new bankruptcy filings nationally is one factor to consider and measure the state of the economy. For instance, the bankruptcy statistics reports now show that bankruptcy filings have dropped by almost 50 percent since 2011! That is a huge number that can’t be ignored as every year since 2011 there are less and less filings regardless of bankruptcy case types filed or location!
Although I do not purport to know much about the inner workings of Washington, or the market forces that affect the economy and all the factors associated with an upturn in the marketplace, the news is positive. Without considering other factors, this trend of the reduced number of bankruptcy cases filed nationally and in the Florida bankruptcy courts may mean that things are therefore looking better. Even so, it is imperative to understand that there are many people who still need bankruptcy and debt relief and a bankruptcy attorney’s help.
And remember, these bankruptcy statistics are based on findings that have nothing to do with the fact that some wrongly think it is now more difficult to qualify for bankruptcy help than before. These statistics have nothing to do with people not being able to file bankruptcy because they are not able to afford a bankruptcy attorney. If you have debt, consider your legal options with your Miami bankruptcy lawyer. Check out your bankruptcy options, if any, to get you a fresh start.