Bankruptcy Statistics Update: The First 12 Months of COVID-19

Contrary to popular belief, the number of consumer bankruptcies filed has not increased since COVID-19 began. In fact, the number of cases filed has dropped significantly!

Below are the numbers for 2018, 2019, 2020, and 2021 (through May, 2021):

2018 Southern District of Ohio:
               Chapter 7 cases filed: 11,577
               Chapter 13 cases filed: 5,419
               Total: 16,996

2019 Southern District of Ohio:
               Chapter 7 cases filed: 11,735
               Chapter 13 cases filed: 5,305
               Total: 17,040

2020 Southern District of Ohio:
               Chapter 7 cases filed: 9,099
               Chapter 13 cases filed: 2,891
               Total: 11,990

2021 Southern District of Ohio (thru May, 2021):
               Chapter 7 cases filed: 3,278
               Chapter 13 cases filed: 925
               Total: 4,203

Now that we have been impacted by COVID-19 for more than 12 months, I will share the year-over-year numbers for this first full year of impact (for these numbers, I am assuming the first full month of COVID-19 impact was April, 2020):

April, 2019 vs. April, 2020
April, 2019: 1,724
April, 2020: 1,072

May, 2019 vs. May, 2020
May, 2019: 1,626
May, 2020: 1,017

June, 2019 vs. June, 2020
June, 2019: 1,388
June, 2020: 1,025

July, 2019 vs. July, 2020
July, 2019: 1,401
July, 2020: 986

August, 2019 vs. August, 2020
August, 2019: 1,439
August, 2020: 875

September, 2019 vs. September, 2020
September, 2019: 1,364
September, 2020: 912

October, 2019 vs. October, 2020
October, 2019: 1,550
October, 2020: 956

November, 2019 vs. November, 2020
November, 2019: 1,254
November, 2020: 686

December, 2019 vs. December, 2020
December, 2019: 1,123
December, 2020: 731

January, 2020 vs. January, 2021:
January, 2020: 1,160
January, 2021: 709

February, 2020 vs. February, 2021
February, 2020: 1,194
February, 2021: 684

March, 2020 vs. March, 2021
March, 2020: 1,423
March, 2021: 968

SUMMARY

12 months Pre-COVID (April, 2019, through March, 2020): 16,646 cases filed
First 12 months of COVID (April, 2020, through March, 2021): 10,621 cases filed

This is a decrease of 6,025 chapter 7/chapter 13 bankruptcy cases filed in the Southern District of Ohio = 36.19% decrease.

Very surprising numbers, considering most “experts” predicted an immediate spike (the opposite of what happened).

Regardless, many people are struggling mightily as the world tilts back to normalcy. Bankruptcy can help get you a fresh start! Call/Text/Email me, Lucas Ruffing, for a free consultation.

Thanks for Reading!

Lucas Ruffing, Attorney
740-815-1114
LucasRuffingLaw@gmail.com