Shoppers on Black Friday at a mall in Bethesda, Md., on Nov. 28, 2025. Madalina Kilroy/The Epoch TimesTotal bankruptcy filings in 2025 rose by 11 percent in the United States from the previous year to 565,759 cases, the American Bankruptcy Institute said in a Jan. 6 statement.Individual filings increased by 12 percent annually, while Chapter 7 filings rose by 15 percent and Chapter 13 filings by 6 percent. Chapter 7 is a liquidation bankruptcy in which assets are sold to pay off creditors, while Chapter 13 is a reorganization bankruptcy in which a person makes monthly payments for a period of three to five years until creditors are fully paid.
-14.8
C
Ottawa
Thursday, January 15, 2026
The Alliance Press is the world leader in online chained news and information and seeks to inform, engage and empower the world. We expose the information that wasn't known before or current events broadcast over the radio, television, online or in print media. Our content is now available through your mobile phone. No matter where your on-the-go lifestyle takes you, TAP brings the news directly to you.
More from CN
Contact
© The Alliance Media Group design by CODEUS