U.S. Bankruptcies Experience Significant Increase in 2023, Expected to Rise Further in 2024 Bankruptcy filings in the U.S. saw an 18% surge in 2023, driven by higher interest rates, stricter lending standards, and the fading of pandemic-era financial supports. The total filings, which include both commercial and personal bankruptcies, rose to 445,186 from 378,390 the previous year, as reported by Epiq AACER. Notably, commercial Chapter 11 reorganizations jumped by 72%, while consumer filings also increased by 18%. Despite the uptick, the numbers are still below the pre-pandemic levels, with 757,816 cases recorded in 2019. Projections for 2024 indicate that bankruptcy filings are expected to continue their upward trajectory. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts July Sees Record Central Bank Gold Acquisition Since January READ MORE A Pivotal Week for Stock Markets: Earnings, Fed Decisions, and Job Reports READ MORE ING: Gold tops $2,500 for the first time READ MORE The Growing Shadow of Credit Card Debt: A Crisis Looming Over American Consumers READ MORE Cash-Strapped Pakistan to Introduce New Series of Currency Notes READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment