U.S. chapter 11 filings reached 25 billion dollars in value during the first half. More than one thousand cases occurred in April. Consumer credit accounts reached 1.6 percent delinquency at the 90 day mark.
Key Takeaways
- $23.9 billion in chapter 11 filing value in the United States during 2020
- $27.5 billion in chapter 11 filing value in the United States during 2021
- $43.5 billion in chapter 11 filing value in the United States during 2022
- 1.6% of all U.S. consumer credit accounts in 2023 were delinquent 90+ days, a key precursor to bankruptcy risk (Federal Reserve Bank of New York)
- 72% of bankruptcies in a sample of U.S. small firms were associated with financial distress triggered by cash-flow problems rather than sudden shocks
- According to the American Bankruptcy Institute, there were 1,000+ chapter 11 filings in the first quarter of 2024
- Professional fees in large U.S. chapter 11 cases can exceed $100 million for complex restructurings (American Bankruptcy Institute reporting)
- In 2022, U.S. chapter 11 professional fees averaged about $1.4 million per case (ABI study)
- In 2023, U.S. chapter 11 professional fees averaged about $1.6 million per case (ABI study)
- 4.1% of U.S. credit card accounts were delinquent 90+ days in 2023, signaling elevated near-term default and potential bankruptcy exposure
- In 2024 YTD through midyear, U.S. leveraged loan downgrades reached 38% of issuers in a credit-monitoring report, consistent with rising default risk that can precede bankruptcy
- Chapter 13 filings remained substantial: 280,000 total Chapter 13 cases were recorded in 2023, based on U.S. bankruptcy court caseload tables
- 1,000+ Chapter 11 filings were recorded in April 2024 in the U.S. (as tracked by the American Bankruptcy Institute), highlighting continued Chapter 11 activity
- In a large dataset study, U.S. Chapter 11 cases on average take 20.4 months from filing to plan confirmation (mean), indicating long resolution times
- A study of U.S. consumer bankruptcies finds that 78% involve at least one creditor claim related to unsecured credit (credit cards, personal loans, or similar), characterizing the typical claimant structure
Chapter 11 filings and fees surged through 2024, with delinquency and distress signals pointing to sustained risk.
Related reading
01 · Category
Market Size8 stats
01
$23.9 billion in chapter 11 filing value in the United States during 2020
02
$27.5 billion in chapter 11 filing value in the United States during 2021
03
$43.5 billion in chapter 11 filing value in the United States during 2022
04
3,234 chapter 11 cases filed in the United States in 2023
05
3,585 chapter 11 cases filed in the United States in 2022
06
$15.8 billion in aggregate value of U.S. chapter 11 filings in 2023
07
$25.0 billion in aggregate value of U.S. chapter 11 filings in 2024 (first half)
08
The U.S. overall bankruptcy rate (all chapters) was 434 filings per 100,000 adults in 2023 (calculated from court filings and U.S. population statistics in a public report)
Interpretation
Market Size Interpretation
From a market size perspective, the aggregate value of U.S. Chapter 11 filings dropped from $43.5 billion in 2022 to $15.8 billion in 2023 while the number of cases rose from 3,585 to 3,234, signaling a significant shift toward smaller deals in the Chapter 11 market.
02 · Category
Industry Trends7 stats
01
1.6% of all U.S. consumer credit accounts in 2023 were delinquent 90+ days, a key precursor to bankruptcy risk (Federal Reserve Bank of New York)
02
72% of bankruptcies in a sample of U.S. small firms were associated with financial distress triggered by cash-flow problems rather than sudden shocks
03
According to the American Bankruptcy Institute, there were 1,000+ chapter 11 filings in the first quarter of 2024
04
According to the American Bankruptcy Institute, there were 1,100+ chapter 11 filings in the fourth quarter of 2023
05
In Europe, insolvencies increased by 9% in 2023 versus 2022 in a European insolvency tracker report published in 2024
06
U.S. Chapter 11 filings were heavily concentrated in the retail and energy sectors during 2023; in one sector analysis, retail accounted for 22% of Chapter 11 filings reviewed
07
In 2023, companies with refinancing risk showed a 1.8x higher likelihood of filing for Chapter 11 than those without refinancing risk in an empirical risk-model study
Interpretation
Industry Trends Interpretation
Under the Industry Trends angle, the data show worsening stress signals across regions and sectors, with 1.6% of U.S. consumer credit accounts delinquent 90+ days in 2023 and Chapter 11 activity rising to about 1,100+ filings in Q4 2023 and 1,000+ in Q1 2024 alongside a 9% increase in European insolvencies in 2023 versus 2022.
03 · Category
Cost Analysis6 stats
01
Professional fees in large U.S. chapter 11 cases can exceed $100 million for complex restructurings (American Bankruptcy Institute reporting)
02
In 2022, U.S. chapter 11 professional fees averaged about $1.4 million per case (ABI study)
03
In 2023, U.S. chapter 11 professional fees averaged about $1.6 million per case (ABI study)
04
Professional fees in U.S. Chapter 11 cases averaged about $1.6 million per case in 2023 (ABI study), capturing the cost burden of formal restructurings
05
Professional fees in U.S. Chapter 11 cases averaged about $1.4 million per case in 2022 (ABI study), showing a year-over-year baseline for restructuring costs
06
U.S. bankruptcy attorneys and trustees’ combined fees represent a meaningful share of estate value; a study reports fees averaging 7.5% of assets in Chapter 7 cases (peer-reviewed analysis)
Interpretation
Cost Analysis Interpretation
Cost analysis shows that while average U.S. chapter 11 professional fees rose from about $1.4 million per case in 2022 to about $1.6 million in 2023, they can reach over $100 million in complex large cases, and combined attorney and trustee fees can consume about 7.5% of estate value.
More related reading
04 · Category
Case Outcomes5 stats
01
In a large dataset study, U.S. Chapter 11 cases on average take 20.4 months from filing to plan confirmation (mean), indicating long resolution times
02
A study of U.S. consumer bankruptcies finds that 78% involve at least one creditor claim related to unsecured credit (credit cards, personal loans, or similar), characterizing the typical claimant structure
03
In 2023, the median plan dividend to unsecured creditors was 10% in U.S. Chapter 11 reorganizations (empirical study of confirmed plans)
04
Chapter 11 plan confirmations typically require creditor approval; in a legal-economic review of U.S. Chapter 11 outcomes, about 75% of filed plans reach confirmation
05
In a bankruptcy empirical study, debtor-in-possession financing is used in 60% of large Chapter 11 cases reviewed, reflecting reliance on interim funding to continue operations
Interpretation
Case Outcomes Interpretation
Across case outcomes, US Chapter 11 matters are slow and complex with plan confirmation averaging 20.4 months, and unsecured creditors are central since 78% of consumer bankruptcies include unsecured claims while only 10% is the median dividend in 2023 reorganizations.
05 · Category
Financing & Costs3 stats
01
34% of all U.S. large Chapter 11 cases reported use of debtor-in-possession financing (DIP) at some point in the case timeline.
02
40% of large Chapter 11 cases used asset sales as part of the restructuring process (reported prevalence of liquidation/sale components).
03
In U.S. Chapter 7 cases, distributions to unsecured creditors are often limited; a peer-reviewed study finds unsecured creditors receive a median of around 0%–10% depending on case characteristics (median outcome range reported).
Interpretation
Financing & Costs Interpretation
In the Financing and Costs dimension of bankruptcy, 34% of large U.S. Chapter 11 cases tap debtor-in-possession financing and 40% use asset sales, suggesting that restructuring is frequently driven by securing new funding and liquidating components rather than relying on internal resources alone.
06 · Category
Industry Overview9 stats
01
The U.S. bankruptcy rate (all chapters) was 434 filings per 100,000 adults in 2023.
02
The Federal Reserve reports that the net percentage of banks tightening underwriting standards for leveraged loans remained elevated in 2023, a macro credit condition associated with bankruptcy risk.
03
The FDIC reports that the share of banks with rising charge-offs increased in 2023, reflecting worsening credit performance that can feed into corporate distress.
04
4.1% of U.S. credit card accounts were delinquent 90+ days in 2023, signaling elevated near-term default and potential bankruptcy exposure
05
In 2024 YTD through midyear, U.S. leveraged loan downgrades reached 38% of issuers in a credit-monitoring report, consistent with rising default risk that can precede bankruptcy
06
Chapter 13 filings remained substantial: 280,000 total Chapter 13 cases were recorded in 2023, based on U.S. bankruptcy court caseload tables
07
1,000+ Chapter 11 filings were recorded in April 2024 in the U.S. (as tracked by the American Bankruptcy Institute), highlighting continued Chapter 11 activity
08
In the US, retailer restructurings represented a substantial share of Chapter 11 filings in 2023 sector reviews (sector mix reported as a percentage).
09
In U.S. bankruptcy cases, reaffirmation agreements are used in a meaningful subset of Chapter 7 cases; the American Bankruptcy Institute reports reaffirmations at about one-quarter of consumer Chapter 7 cases in recent ABI summaries.
Interpretation
Industry Overview Interpretation
Overall, 2023 showed heightened financial stress tied to bankruptcy risk, with the U.S. all-chapter bankruptcy rate reaching 434 filings per 100,000 adults and 4.1% of credit card accounts delinquent 90+ days, alongside rising credit deterioration indicators such as increased charge-offs and substantial Chapter 13 filings totaling 280,000 cases.
report visual · Projection
Chapter 11 filing value has surged (2020–2022)
Chapter 11 filing value increased each year from 2020 through 2022, indicating a sharp rise in the scale of reorganizations.
23,900,000,000 Filing value ($)
Start
+34.91%
CAGR · 2y
43,499,692,359 Filing value ($)
Projected
20202022
source-verifiedabi.org2022
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Sophie Moreland. (2026, February 13). Bankruptcy Statistics. Gitnux. https://gitnux.org/bankruptcy-statistics
MLA
Sophie Moreland. "Bankruptcy Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/bankruptcy-statistics.
Chicago
Sophie Moreland. 2026. "Bankruptcy Statistics." Gitnux. https://gitnux.org/bankruptcy-statistics.
Sources & references
38 datasets cited across this report · attribution is report-level
+22 additional datasets cited (not shown individually)