Bankruptcy Statistics

GITNUXREPORT 2026

Bankruptcy Statistics

Chapter 11 filings in the United States reached 25.0 billion in aggregate value in 2024 through midyear and 1,000 plus filings in the first quarter of 2024, while 1.6% of U.S. consumer credit accounts were delinquent 90 days or more in 2023, a clear early warning sign for bankruptcy risk. You will also see why large restructurings can burn through more than $100 million in professional fees, yet most Chapter 11 plans still confirm about 75% of the time, turning distress into a slow negotiation rather than a sudden crash.

38 statistics38 sources10 sections9 min readUpdated 12 days ago

Key Statistics

Statistic 1

$23.9 billion in chapter 11 filing value in the United States during 2020

Statistic 2

$27.5 billion in chapter 11 filing value in the United States during 2021

Statistic 3

$43.5 billion in chapter 11 filing value in the United States during 2022

Statistic 4

3,234 chapter 11 cases filed in the United States in 2023

Statistic 5

3,585 chapter 11 cases filed in the United States in 2022

Statistic 6

$15.8 billion in aggregate value of U.S. chapter 11 filings in 2023

Statistic 7

$25.0 billion in aggregate value of U.S. chapter 11 filings in 2024 (first half)

Statistic 8

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)

Statistic 9

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)

Statistic 10

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

Statistic 11

According to the American Bankruptcy Institute, there were 1,000+ chapter 11 filings in the first quarter of 2024

Statistic 12

According to the American Bankruptcy Institute, there were 1,100+ chapter 11 filings in the fourth quarter of 2023

Statistic 13

In Europe, insolvencies increased by 9% in 2023 versus 2022 in a European insolvency tracker report published in 2024

Statistic 14

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

Statistic 15

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

Statistic 16

Professional fees in large U.S. chapter 11 cases can exceed $100 million for complex restructurings (American Bankruptcy Institute reporting)

Statistic 17

In 2022, U.S. chapter 11 professional fees averaged about $1.4 million per case (ABI study)

Statistic 18

In 2023, U.S. chapter 11 professional fees averaged about $1.6 million per case (ABI study)

Statistic 19

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

Statistic 20

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

Statistic 21

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)

Statistic 22

4.1% of U.S. credit card accounts were delinquent 90+ days in 2023, signaling elevated near-term default and potential bankruptcy exposure

Statistic 23

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

Statistic 24

Chapter 13 filings remained substantial: 280,000 total Chapter 13 cases were recorded in 2023, based on U.S. bankruptcy court caseload tables

Statistic 25

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

Statistic 26

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

Statistic 27

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

Statistic 28

In 2023, the median plan dividend to unsecured creditors was 10% in U.S. Chapter 11 reorganizations (empirical study of confirmed plans)

Statistic 29

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

Statistic 30

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

Statistic 31

34% of all U.S. large Chapter 11 cases reported use of debtor-in-possession financing (DIP) at some point in the case timeline.

Statistic 32

40% of large Chapter 11 cases used asset sales as part of the restructuring process (reported prevalence of liquidation/sale components).

Statistic 33

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).

Statistic 34

The U.S. bankruptcy rate (all chapters) was 434 filings per 100,000 adults in 2023.

Statistic 35

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.

Statistic 36

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.

Statistic 37

In the US, retailer restructurings represented a substantial share of Chapter 11 filings in 2023 sector reviews (sector mix reported as a percentage).

Statistic 38

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.

Sources
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Sophie Moreland

Written by Sophie Moreland·Edited by Nicholas Chambers·Fact-checked by Katherine Brennan

Published Feb 13, 2026·Last verified May 13, 2026
Fact-checked via 4-step process
01Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

02Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

03AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

04Human Cross-Check

Final human editorial review of all AI-verified statistics. Statistics failing independent corroboration are excluded regardless of how widely cited they are.

Read our full methodology →

Statistics that fail independent corroboration are excluded.

Chapter 11 is still pulling serious weight in 2024, with aggregate filing value hitting $25.0 billion in just the first half, while chapter 11 filings remain steady at 1,000-plus in April 2024. At the same time, the leading warning lights for trouble are flashing in consumer credit, with 1.6% of U.S. consumer credit accounts delinquent 90+ days in 2023. Put together, these figures raise a practical question that recurs across the dataset, is the next wave of bankruptcies being driven more by sudden shocks or by the slow squeeze of cash flow and credit conditions.

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

Market Size

1$23.9 billion in chapter 11 filing value in the United States during 2020[1]
Verified
2$27.5 billion in chapter 11 filing value in the United States during 2021[2]
Verified
3$43.5 billion in chapter 11 filing value in the United States during 2022[3]
Single source
43,234 chapter 11 cases filed in the United States in 2023[4]
Single source
53,585 chapter 11 cases filed in the United States in 2022[5]
Directional
6$15.8 billion in aggregate value of U.S. chapter 11 filings in 2023[6]
Verified
7$25.0 billion in aggregate value of U.S. chapter 11 filings in 2024 (first half)[7]
Directional
8The 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)[8]
Single source

Market Size Interpretation

From a market size perspective, US chapter 11 filing value surged from $23.9 billion in 2020 to $43.5 billion in 2022, and then climbed to $15.8 billion in 2023, indicating that the economic scale of distress has been highly volatile and remains substantial.

More related reading

Cost Analysis

1Professional fees in large U.S. chapter 11 cases can exceed $100 million for complex restructurings (American Bankruptcy Institute reporting)[16]
Verified
2In 2022, U.S. chapter 11 professional fees averaged about $1.4 million per case (ABI study)[17]
Verified
3In 2023, U.S. chapter 11 professional fees averaged about $1.6 million per case (ABI study)[18]
Verified
4Professional 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[19]
Verified
5Professional 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[20]
Single source
6U.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)[21]
Verified

Cost Analysis Interpretation

Cost analysis shows that U.S. Chapter 11 restructuring expenses are typically measured in the low millions, rising from about $1.4 million per case in 2022 to about $1.6 million per case in 2023, with attorney and trustee fees in Chapter 7 averaging roughly 7.5% of assets.

Credit Conditions

14.1% of U.S. credit card accounts were delinquent 90+ days in 2023, signaling elevated near-term default and potential bankruptcy exposure[22]
Verified
2In 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[23]
Verified

Credit Conditions Interpretation

Credit conditions appear to be deteriorating as 4.1% of U.S. credit card accounts were delinquent 90 plus days in 2023 and leveraged loan downgrades hit 38% of issuers in 2024 YTD, signaling higher default risk that can feed into future bankruptcy exposure.

Filing Volume

1Chapter 13 filings remained substantial: 280,000 total Chapter 13 cases were recorded in 2023, based on U.S. bankruptcy court caseload tables[24]
Verified
21,000+ Chapter 11 filings were recorded in April 2024 in the U.S. (as tracked by the American Bankruptcy Institute), highlighting continued Chapter 11 activity[25]
Verified

Filing Volume Interpretation

In filing volume trends, Chapter 13 stayed firmly active with 280,000 total cases in 2023, while Chapter 11 also remained lively with 1,000 plus filings recorded in April 2024 in the United States.

More related reading

Case Outcomes

1In 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[26]
Verified
2A 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[27]
Verified
3In 2023, the median plan dividend to unsecured creditors was 10% in U.S. Chapter 11 reorganizations (empirical study of confirmed plans)[28]
Verified
4Chapter 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[29]
Verified
5In 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[30]
Verified

Case Outcomes Interpretation

Across case outcomes, U.S. Chapter 11 matters often move slowly and end with modest unsecured recoveries, with plans taking about 20.4 months to reach confirmation and only around 10% median dividends to unsecured creditors even though roughly 75% of filed plans are confirmed.

Financing & Costs

134% of all U.S. large Chapter 11 cases reported use of debtor-in-possession financing (DIP) at some point in the case timeline.[31]
Single source
240% of large Chapter 11 cases used asset sales as part of the restructuring process (reported prevalence of liquidation/sale components).[32]
Verified
3In 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).[33]
Verified

Financing & Costs Interpretation

Financing and costs pressures show up clearly in restructuring outcomes, with DIP financing appearing in 34% of large Chapter 11 cases and asset sales used in 40%, while in Chapter 7 unsecured creditors often recover only about 0% to 10% on a median basis.

Macro & Policy

1The U.S. bankruptcy rate (all chapters) was 434 filings per 100,000 adults in 2023.[34]
Verified
2The 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.[35]
Verified
3The FDIC reports that the share of banks with rising charge-offs increased in 2023, reflecting worsening credit performance that can feed into corporate distress.[36]
Verified

Macro & Policy Interpretation

In 2023, the U.S. recorded 434 bankruptcy filings per 100,000 adults while macro credit conditions also deteriorated as the Federal Reserve kept leveraged-loan underwriting tight and the FDIC saw rising charge-offs, reinforcing that bankruptcy risk under the Macro and Policy lens is being fueled by tougher lending and weakening credit performance.

More related reading

Geography & Sectors

1In the US, retailer restructurings represented a substantial share of Chapter 11 filings in 2023 sector reviews (sector mix reported as a percentage).[37]
Verified

Geography & Sectors Interpretation

In the Geography and Sectors view, the United States saw retailer restructurings take a substantial share of Chapter 11 filings in 2023, underscoring how sector composition is a major driver of bankruptcy activity.

How We Rate Confidence

Models

Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.

Single source
ChatGPTClaudeGeminiPerplexity

Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.

AI consensus: 1 of 4 models agree

Directional
ChatGPTClaudeGeminiPerplexity

Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.

AI consensus: 2–3 of 4 models broadly agree

Verified
ChatGPTClaudeGeminiPerplexity

All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.

AI consensus: 4 of 4 models fully agree

Models

Cite This Report

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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.

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