Bankruptcies Grew in 2024 but Remain Below Pre-Pandemic Levels

Total US bankruptcy filings increased 14% last year compared to 2023 but remain significantly lower than pre-pandemic levels.

The 508,758 bankruptcy cases filed in 2024—most of which came from consumers—represented a nearly 33% drop from 2019. But the year-over-year growth was still “substantial,” according to a Friday press release from the American Bankruptcy Institute and Epic AACER, a bankruptcy information provider.

Commercial Chapter 11 filings, totaling 7,879, increased 20% over 2023. Filings made under a section of bankruptcy law known as Subchapter V—which is designed for small businesses—rose 32%, the release said. However, Subchapter V filings slowed in the back ...