American Bankruptcy Institute released a report indicating total bankruptcy filings in the United States decreased 12% in 2011 over calendar year 2010, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 1,379,113 for the 12-month period ending Dec. 31, 2011, over the previous year’s total of 1,561,008. The consumer filing total for calendar year 2011 was 1,304,971, representing an 11% decrease from the 1,468,938 total consumer filings during the same period in 2010.

The total commercial filings for calendar year 2011 also decreased to 74,142, representing a 19% decline from the 92,070 business filings recorded in 2010.

“The decline in total filings reflects the retrenchment in consumer spending associated with a down U.S. economy,” said ABI Executive Director Samuel J. Gerdano. “As consumers continue to deleverage their debt and access to credit
remains tight, bankruptcy filings will continue to decrease.”

Total filings for chapter 7, 11 and 13 bankruptcies all decreased during the 12-month period ending Dec. 31, 2011, Epiq reported. The 965,423 total chapter 7 filings during the 2011 calendar year represented a 13% decrease from the 1,111,236 total chapter 7 filings recorded during the same period in 2010. Total chapter 11 filings reached 11,396 in calendar year 2011, a decrease of 17% from the 13,665 recorded in 2010. Total chapter 13 bankruptcies fell 8 % from 435,242 during the 2010 calendar year to 401,588 during the same period in 2011.

States with the highest per capita filing rate (total filings per 1,000 population) during the 12-month period ending Dec. 31, 2011 were:

1) Nevada (8.98)
2) Georgia (7.35)
3) Tennessee (7.34)
4) Utah (6.53)
5) Alabama (6.37)

Total commercial filings for chapters 7 and 11 also recorded double-digit decreases during calendar year 2011, according to the Epiq data. Commercial chapter 7 filings during the 12-month period ending Dec. 31, 2011, reached 49,500, a 21% decrease from the 62,519 filings during the same period in 2010. Total chapter 11 commercial filings for calendar year 2011 were 8,611, a decrease of 19% from the 10,604 recorded in 2010.

Epiq Solution’s data also showed that the 96,264 total filings recorded in December 2011 represented a 16% decrease from the 114,738 filings in December 2010. Commercial filings were 5,496 in December 2011, a 21% decrease from the 6,986 business filings in December 2010.