The 195 commercial Chapter 11 filings in November represented a 70 percent decrease from the 654 filings in November 2020, according to data provided by Epiq. Commercial bankruptcy filings as a whole totaled 1,565 in November 2021, a 33 percent decrease from the 2,345 commercial filings in November 2020.

The 29,325 total bankruptcies in November 2021 were down 15 percent from the 34,486 filings in November 2020. Similarly, consumer bankruptcies decreased 14 percent in November 2021, as the 27,760 filings dropped from the 32,141 consumer filings registered in November 2020.

“Bankruptcies are on pace this year to record their lowest annual total since the mid-1980s due to a number of factors, including pandemic relief programs, lender forbearances and low interest rates,” said ABI Executive Director Amy Quackenboss. “As the calendar turns to 2022, the expiration of relief programs, rising inflation and supply chain challenges have created economic headwinds for consumers and businesses. Bankruptcy provides struggling families and companies with an established course for navigating financial difficulty.”

Commercial Chapter 11 filings in November represented a 34 percent decrease from the 295 filings recorded in October. Total filings for November decreased 7 percent compared to the 31,483 total filings in October. Total noncommercial filings for November also decreased 7 percent from the October noncommercial filing total of 29,701. November’s commercial filing total represented a 12 percent decrease from the October commercial filing total of 1,782.
 
The 373,312 total bankruptcies through the first 11 months of 2021 are on pace to result in the lowest annual filing total since the 412,510 filings recorded in calendar year 1985.
 
The average nationwide per capita bankruptcy filing rate (total filings per 1,000 population) was 1.31 for the first 11 calendar months of 2021 (Jan. 1-Nov. 30), a slight decrease from the 1.33 rate registered during the first 10 months of the year. The average daily filing total in November 2021 was 1,543, a 15 percent decrease from the 1,815 total daily filings registered in November 2020. States with the highest per capita filing rates (total filings per 1,000 population) through the first 11 months of 2021 were:

1. Alabama (3.14)
2. Nevada (2.62)
3. Tennessee (2.43)
4. Indiana (2.22)
5. Georgia (2.12)