Chapter 7 Individual Bankruptcies in April Rise by 16 Percent Year Over Year

Total individual and businesses bankruptcies are up by 9 percent from last year.

A person arrives at the U.S. District Bankruptcy Court for the Southern District of New York in Manhattan, on Jan. 9, 2020. Brendan McDermid/Reuters

Chapter 7 bankruptcy filings by Americans rose by 16 percent year-over-year to hit 30,961 filings in April, the American Bankruptcy Institute (ABI) said in a May 2 statement.

Total bankruptcy filings, which include submissions from both individuals and businesses, were up by 9 percent on an annual basis.