California had the highest number of Chapter 7 bankruptcy filings of any state in 2023 with 30,248 Chapter 7 bankruptcy filings. 1,735 of these were filed by businesses, and 28,513 were non-business filings.
Chapter 7 bankruptcy is when the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold.
Number of Chapter 7 bankruptcy filings in the United States in 2023, by state
The nature of debt is business if the debtor is a corporation or partnership, or if debt related to the operation of a business predominates. Non-business debt includes consumer debt or other debt that the debtor indicates is not consumer debt or business debt.
Chapter 7 bankruptcy is the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold.
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US Courts. (July 2, 2024). Number of Chapter 7 bankruptcy filings in the United States in 2023, by state [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1117994/bankruptcy-filings-us-chapter-7-state/
US Courts. "Number of Chapter 7 bankruptcy filings in the United States in 2023, by state." Chart. July 2, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1117994/bankruptcy-filings-us-chapter-7-state/
US Courts. (2024). Number of Chapter 7 bankruptcy filings in the United States in 2023, by state. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1117994/bankruptcy-filings-us-chapter-7-state/
US Courts. "Number of Chapter 7 Bankruptcy Filings in The United States in 2023, by State." Statista, Statista Inc., 2 Jul 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1117994/bankruptcy-filings-us-chapter-7-state/
US Courts, Number of Chapter 7 bankruptcy filings in the United States in 2023, by state Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1117994/bankruptcy-filings-us-chapter-7-state/ (last visited November 10, 2024)
Number of Chapter 7 bankruptcy filings in the United States in 2023, by state [Graph], US Courts, July 2, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1117994/bankruptcy-filings-us-chapter-7-state/
