Wednesday, February 5, 2014

December 2013 bankruptcies hit lowest level since 2007

According to the US bankruptcy court in Colorado, there were 1280 foreclosures filed in December 2013, which was the lowest December total filed since December 2007. This puts bankruptcy activity back at pre-financial crisis levels.

The first graph shows foreclosures for each month compared to the same month in previous years:


The graph shows that bankruptcies peak in March and decline through the rest of the year. 

There were a total of 21,131 bankruptcies in 2013 compared to 26,099 during 2012. The second graph shows annual totals going back to 1999:


Bankruptcies have been declining, year over year, for the past 35 months. They were down 21.5 percent from December 2012 to December 2013. The final graph shows YOY drops: 


Overall bankruptcy activity continues to fall as employment remains relatively stable and interest rates remain low.