BankruptcyProf Blog

Central District of California Filings Break 10,000 in October, 2009

From Prof. Lawless' data base, the Bankruptcy Data Project:

Filings by chapter in the Central District of California in October, 2009:

CACB

ch 7; 7839

ch 11; 107

ch 13; 2366

total; 10314

 

This compares to 9,089 total in September, 9,740 in August, and 9,886 filings in July, 9,578 in June, 8,965 in May, 8,398 in April, 8,518 in March, 6,967 in February and 5,999 in January. 

Chapter 13s were 2,366 in October, 2,025, in September, 2,180 in August, 2,053 in July, 2,291 in June, 1,988 in May.  Chapter 13 trustees received 473 new petitions each in October.

Total Central District filings in October by the way were more than double the entire state of New York,  10,314 to 5,117 and roughly double the entire state of Texas, 10,314 to 5,274.  So about the same as the Texas and New York combined.   

October Filings Up

Total bankruptcy filings for October, 2009 were 130,200, up 3.7% from September, 2009 of 125,500; compared to 120,000 in August; 130,500 in July; 124,800 in June; 120,400 in May; 128,700 in April, 131,000 in March, 102,000 in February and 89,000 in January.

Total filings Jan through October, 2009; 1,211,300
Total filings Jan through October, 2008;   908,700
Total filings Jan through October, 2007;   687,000

I'm not sure this means things continue to get worse.  I am getting a lot of calls from people trying to hold off hoping to get a loan modification and slowly giving up.   

Central District Filings in September, 2009

In September, 2009, the Central District saw a small drop in total filings: 9,089 total filings compared to 9,740 in August, and 9,886 filings in July, 9,578 in June, 8,965 in May, 8,398 in April, 8,518 in March, 6,967 in February and 5,999 in January.  That is 58,436 for the first seven months compared 33,396 for the same seven months last year or a 75% increase.

September filings broken down by chapter:

CACB

7,009, ch 7

74, ch 11

2,006, ch 13

9,089; total

Chapter 13s were 2,180 in August, 2,053 in July, 2,291 in June, 1,988 in May.  Chapter 13 trustees received 400 new petitions each in September.    

There were 96 chapter 11 petitions in August, 71 in July, 110 in June and 66 in May. 

Filings so far in 2009:
 

CACB

59,419, ch 7

836, ch 11

17,027 ch 13

77,288, total

Same numbers Jan through September, 2008;

CACB

34,062; ch 7

604, ch 11

11,212, ch 13

45,880; total

This info can be found at the Bankruptcy Data Project.   

Filings in September 2009 Remain Steady

Total bankruptcy filings for September, 2009 were 125,500 compared to 120,000 in August; 130,500 in July; 124,800 in June; 120,400 in May; 128,700 in April, 131,000 in March, 102,000 in February and 89,000 in January. 

Doddling with August Filing Statistics

Filings in August, 2009;

Entire state of Texas, ch 7 was 2,355 or 46% of total filings, ch 13 was 2,666 or 52%.

Entire state of New York, ch 7 was 3,672 or 80% of total filings, ch 13 was 797 or 17%.

Central District of CA, ch 7 was 7,464 or 77% of total filings, ch 13 was 2,180 or 22%.

Entire state of CA, ch 7 was 14,108 or 77% of total, ch 13 was 4,145 or 22%.

Entire state of Michigan, ch 7 was 4,589 or 85% of total, ch 13 was 792 or 15%. 

Entire state of Hawaii, ch 7 was 209 or 84% of total, ch 13 was 46 or 15%.

The Central District of California had more total filings in August than the entire states of New York and Texas combined.  

12 districts out of 95 total had more chapter 13s than chapter 7; 3 districts in Alabama, 2 in Georgia, 2 in Texas, 1 each in Mississippi, Louisiana, North Carolina, Tennessee and Puerto Rico. 

Thanks to Bankruptcy Data Project.

Central District Filings in August 2009

In August, 2009, the Central District saw 9,740 filings compared to 9,886 filings in July, 9,578 in June, 8,965 in May, 8,398 in April, 8,518 in March, 6,967 in February and 5,999 in January.  That is 58,436 for the first seven months compared 33,396 for the same seven months last year or a 75% increase.

August filings broken down by chapter:

CACB

7464; ch 7

96 ; ch 11

2180; ch 13

9740; total

Chapter 13s were 2,053 in July, 2,291 in June, 1,988 in May - 21% of total filings - roughly the same percentage as the last four months.  That is 411 new petitions per trustee for the month.     

There were 71 chapter 11 petitions in July, 110 in June and 66 in May. 

Filings so far in 2009:

CACB

52406 ch 7

761  ch 11

15018 ch 13

68191  total

 

Same numbers Jan through Aug, 2008;

CACB

29413; ch 7

547; ch 11

9629; ch 13

39591 total

This info can be found at the Bankruptcy Data Project.   

Filings Fall in August, 2009

Total bankruptcy filings for August, 2009 decreased 8% to 119,874 from 130,500 in July.  Total filings were 124,800 in June, 120,400 in May, 128,700 in April, 131,000 in March, 102,000 in February and 89,000 in January.  

Delaware Filings in July, 2009

DEB

223

0

193

66

0

5

482

I started wondering about how many cases were filed in Delaware in July, 2009 to give us in the Central District some perspective.  The above table says 223 chapter 7s were filed in July, -0- individual chapter 11s, 193 total chapter 11s, 66 chapter 13s, -0- chapter 9s, and 5 chapter 15s.  Remember Delaware has only one bankruptcy court district.

NYSB

877

8

53

184

1

1

1114

How 'bout Manhatten, Southern District of New York?  There were 877 chapter 7s (compared to 7,761 in the Central District of California); 8 individual chapter 11s, 53 total chapter 11, 184 chapter 13s, 1 chapter 9, and 1 chapter 15.

CACB

7761

33

71

2053

0

0

9886

This is the Central District of California numbers.  Ch 7 - 7,761; individual ch 11 - 33, total ch 11 - 71, 2,053 ch 13, no 9s and no 15s.   

The second highest number of chapter 7s is in Florida, 4,153.  Only three other districts (out of 95) had more than 3,000; Eastern Michigan, Northern Ill, and Eastern California.

Thanks to the Bankruptcy Data Project. 

Central District Filings in July

In July, 2009, the Central District saw 9,886 filings compared to 9,578 in June, 8,965 in May, 8,398 in April, 8,518 in March, 6,967 in February and 5,999 in January.  That is 58,436 for the first seven months compared 33,396 for the same seven months last year or a 75% increase.   

Chapter 13s were 2,053 compared to 2,287 in June, 1,988 in May - 21% of total filings - roughly the same percentage as the last four months.  That is 411 new petitions per trustee for the month.     

There were 71 new chapter 11 petition compared to 110 in June and 66 in May.  Individuals filed 33 of the chapter 11 petitions in July.    

This info can be found at the Bankruptcy Data Project.   

Filings Rise in July (again)

Total bankruptcy filings for July, 2009 increased 4.6% to 130,500, up from 124,800 in June, 120,400 in May, and 128,720 petitions filed in April.  At the July rate, we would have 391,000 for the quarter compared to 374,000 for the second quarter and 322,000 for the first quarter.  

Central District Filings up 7% in June

In June, 2009, the Central District saw 9,578 total filings compared to 8,965 in May, 8,398 in April, 8,518 in March, 6,967 in February and 5,999 in January.  That is 48.550 for the first six months compared 33,396 for the same six months last year or a 45% increase.   

Chapter 13s were 2,287 compared to 1,988 in May - 22% of total filings - same percentage as the last three months.  That is 457 new petitions per trustee for the month.     

There were 110 new chapter 11 petitions compared to 66 in May.  Individuals filed 42 of the chapter 11 petitions in June.    

This info can be found at the Bankruptcy Data Project.   

Bankruptcy Filings Rise Slightly in June

Total bankruptcy filings for June, 2009 increased 3.6% to 124,800 from 120,400 in May which was down from 128,720 petitions filed in April.  That's 374,000 for the second quarter up 16% from 322,000 for the first quarter.  The June rate equates to 1,497,600 for the year compared to 1,597,000 in 2004, 1,660,000 in 2003 and 1,578,000 in 2002. 

Central District of California Filings Up 6% in May

In May, 2009, the Central District saw 8,965 total filings compared to 8,398 in April, 8,518 in March, 6,967 in February and 5,999 in January.  That is 38,970 for the first five months compared 22,562 for the same five months last year or a 73% increase.   

Chapter 13s were 1,988 or 22% of total filings - same percentage as the last two month.  That is 397 new petitions per trustee for the month.     

There were 66 new chapter 11 petitions in May of which 26 were individuals.    

This info can be found at the Bankruptcy Data Project.   

Bankruptcy Petition Filings Fall in May - Can That be True?

Total filings in May, 2009 were 120,400, down 6.5% from the 128,720 petitions filed in April, 2009.  This compares to 131,000 in March, 102,000 in February and 89,000 in January.  The May rate equates to 1,445,000 for a year compared to 1,597,000 in 2004, 1,660,000 in 2003 and 1,578,000 in 2002. 

These results surprised me.  Although I file only a few consumer petitions each month, the phone calls I get every day are just getting ridiculous.  I've been getting more calls than ever in my life from small businesses who want to file chapter 11 and basically faint when I tell them how much it costs.  Some small businesses can be squeezed into chapter 13 but small corporations/LLCs/partnerships cannot.  There should be a small business chapter 11 that actually works.  The small business rules in the code now do nothing to help the small business, especially from the immense cost.  But I digress. . .    

April FIlings in the Central District of California Hold Steady

In April, 2009, the Central District saw 8,398 total filings compared to 8,518 in March, 6,967 in February and 5,999 in January. 

Chapter 13s were 1,815 or 22% of total filings - same percentage as last month.  That is 363 new petitions per trustee.   

Chapter 11s in the first quarter totaled 91 of which 28 were individual petitions.  

This info can be found at the Bankruptcy Data Project.   

April Bankruptcy Filings

There were 128,720 total bankruptcy petitions filed in April, 2009.  This compares to 131,000 in March, 102,000 in February and 89,000 in January.  The April rate equates to 1,550,000 for a year or pretty close to the 1,597,000 in 2004, 1,660,000 in 2003 and 1,578,000 in 2002. 

Chapter 13 Audited Annual Report for FY 2008

You can access the report here, more statistics than the feeble mind like mine can comprehend - by district and even by trustee!.  The report is dated April 24, 2009.   

188 trustees across the country collected $5.2 billion.  Distributions were (very roughly) $2.7 billion to secured creditors; $260 million to priorty creditors; $1.2 billion to unsecureds; and $472 million to debtor's counsel.  The trustees' actual expenses of operations were $253 million plus $32 million compensation for the trustees.  There were 756,874 cases open at the end of the fical year.   

Filings up in the Central District of California

In March, 2009, the Central District saw 8,518 total filings, up 22% over the 6,967 in February and 42% over the 5,999 in January.  Total filings for the first quarter were 21,484, up a whopping 81% over the 11,862 filings in the first quarter of 2008.

Chapter 13s in the first quarter totaled 4,677 or 22% of total filings.  The first quarter ch 13 filings exceeded the 2,833 filings in the first quarter of 2008 by 65%. 

Chapter 11s in the first quarter totaled 325 or a 239% increase over the 96 filings in the first quarter of 2008.  Of the 325 chapters 11s in the first quarter, 69 were individual petitions.  

This info can be found at the Bankruptcy Data Project.   

Bankruptcy Filings Way Up in March, 2009

I was wondering why I was so busy.  Total petitions filed in March were 131,000, a 28% increase over February which totaled 102,000 and a 47% increase over the 89,000 filed in January.  That is 323,000 for the quarter compared to 296,000 for the fourth quarter of last year or a 9% increase.  Based on the first quarter, we're looking at 1,292,000 for the year 2009.  

The first quarter 2009 is still lower than every pre-BAPCPA quarter going back to the fourth quarter of 2000.  Every quarter in 1997 through 1999 exceeded 323,000 except the fourth quarter of 1999.  If the next quarter averages the same as March, that quarter (393,000 filings) would multiply out to 1,572,000 annually or less than the totals in 2004, 2003,and 2002 although the filings in total are getting pretty close.       

Prof. Bob Lawless has a great post on this at CreditSlips.com.  He says that on a daily basis, the increase from March over February was only 9%.      

Bankruptcy Internet Data Project

I just found the greatest website for statistical junkies - I'm embarrassed that I didn't know about it before.  Its called the Bankruptcy Internet Data Project, hosted by Harvard Law, and run by Profs. Bob Lawless, Elizabeth Warren and a bunch of others.  You click in what data you want to see and how you want it presented and its instantaneous.  The project is at http://bdp.law.harvard.edu/fellows.cfm

Month	Ch. 7 Total Petitions	Ch. 11 Total Petitions	Ch. 12 Total Petitions	Ch. 13 Total Petitions	Ch. 9 Total Petitions	Ch. 15 Total Petitions	All Chapters Total Petitions
Jan/09	58759	1087	35	29344	0	16	89225
Feb/09	71451	1047	28	30406	2	3	102932

A 22% increase in chapter 7 and a 3% increase in chapter 13, from January to February, 2009.  A decrease in chapter 11 filings.  You can access this data by district as well.