Bankruptcy filings hit a record 395,129 for the final three months of 2002. For all of 2002, total bankruptcies filed were 1,577,651, up 5.7% from 2001. Previously, the largest number of bankruptcies filed in a single 12-month period was in the period between October 1, 2001-September 30, 2002 when it hit 1,547,669 filings. According to the Administrative Office of the U.S. Courts, of the total number of bankruptcy filings for the 12-month period ending December 31, 2002, there were 1,109,923 Chapter 7 filings, up 5.2% from the 1,054,975 Chapter 7 filings in the same period in 2001. The next largest group of filings was Chapter 13 filings at 455,877, up 7.2% from the 425,292 filings in calendar year 2001.
ANNUAL FILINGS BY BANKRUPTCY CHAPTER
Year Chap. 7 Chap. 13
2002 1,109,923 455,877
2001 1,054,975 425,292
2000 859,220 383,894
1999 927,074 382,214
1998 1,035,696 397,619
1997 989,372 403,025
