The 2016 bankruptcy statistics tell an interesting story. While the total number of bankruptcy cases filed in 2016 in the Western District of Wisconsin (“WDW”) fell 5.5% to its lowest level in ten years, Chapter 12 farm bankruptcy cases actually increased 31% from 2015.
Total Filings. There were 4,362 total bankruptcy cases filed in the WDW in 2016 compared to 4,619 total cases filed in 2015. Total bankruptcy cases are now down 54% from 2010 when 9,494 total cases were filed and they are at the lowest level since 2006 when 3,560 total cases were filed. Total bankruptcy cases have now decreased every year in the WDW since 2010.
Chapter 7. In 2016, there were 3,566 Chapter 7 cases filed in the WDW. That is a decrease of 7% from 2015, when 3,832 Chapter 7 cases were filed, and a drop of 57% from 2010 when 8,322 Chapter 7 cases were filed.
Chapter 11. In 2016, there were 17 Chapter 11 cases filed in the WDW, which equaled the number of Chapter 11 cases filed in 2015, but that number is down 65% from 2012 when 49 Chapter 11 cases were filed.
Chapter 12. In 2016, there were 21 Chapter 12 farm bankruptcies filed in the WDW. That is an increase of 31% over 2015 and is the highest since 2010 when 31 Chapter 12 cases were filed. In 2016, the WDW continued to rank 3rd in the nation in the number of Chapter 12 cases filed. The WDW was tied with Kansas (21) and behind only Middle District of Georgia (28) and Puerto Rico (25).
Chapter 13. In 2016, there were 758 Chapter 13 cases filed in the WDW, compared to 754 Chapter 13 cases filed in 2015, but still down 31% from 2010 when 1,099 Chapter 13 cases were filed.
Link to WDW Bankruptcy Statistics.
Here is the link for statistics by month. http://www.wiwb.uscourts.gov/statistics-month
Here is the link for statistics by Chapter.
Keep in mind that things move rather quickly in Chapter 12 and Chapter 13 cases. If you receive a bankruptcy notice, you should promptly review your file and contact your counsel, as necessary, so you don’t miss any important deadlines.