Total bankruptcy filings in the United States for July 2012 decreased 12 percent compared to the previous year, according to data provided by Epiq Systems, Inc. July bankruptcy filings totaled 97,073, down from the 110,173 filings registered in July 2011. Total commercial filings for July 2012 were 4,513, representing a 22 percent decrease from the 5,800 filings during the same period in 2011. The 92,560 total noncommercial filings for July represented an 11 percent drop from the July 2011 noncommercial filing total of 104,373. “The July filings continue to reflect the effects of sustained low interest rates and weak consumer spending,” said ABI Executive Director Samuel J. Gerdano. “We are still on pace for perhaps the lowest total new bankruptcies since before the financial crisis in 2008.”
