Bankruptcy Petition Filing Statistics!
                     Bankruptcy Petition Filing Statistics!
According to the Bankruptcy Petition filing statistics, 
consumers filing for bankruptcy in 2017 reported 
total assets of $80 billion and total debt of $105 
billion, according to an annual report filed by the 
Judiciary with Congress. The report, required by 
Congress under the Bankruptcy Abuse Prevention 
and Consumer Protection Act of 2005.  Some 
notable highlights in the report are:
• Sixty-two percent of assets were real property, and 
the remaining assets were personal property.
• Debtors in the Northern District of California and in 
the Southern District of Florida reported the highest 
average assets per petition, at $583,000 and 
$338,000, respectively. Filers in the Western District 
of Tennessee reported the lowest average assets, 
$44,000.
• The median average income reported by debtors was 
$2,741 a month, and the median average monthly 
expenses were $2,645. 
• A total of 742,323 consumer bankruptcy petitions 
were filed in 2017, 1 percent fewer than in 2016.
• About 61 percent of the bankruptcy petitions were 
filed under Chapter 7 of the Bankruptcy Code, in 
which a debtor’s assets are liquidated and proceeds 
are distributed to creditors, except for exempt assets.
• About 38 percent were filed under Chapter 13 of the 
Bankruptcy Code, in which debtors make installment 
payments to a Trustee who distributes it to creditors 
under court-approved plan.
• Debtors were able to successfully pay their debts in 
48 percent of the Chapter 13 cases closed in 2017 – 
slightly less than the 52 percent reported in 2016.
Less than 1 percent of petitions by individuals with 
consumer debts were filed under Chapter 11, which 
allows businesses and individuals to continue operating 
while they make plans to reorganize and repay 
creditors.
The data for the report is provided by the debtors 
either at the time they file bankruptcy lawyer petitions 
or within two weeks of filing, which is required by 
federal bankruptcy rules.