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Annual Report of 2017 Bankruptcy Case Filings Nationwide

Fri, 08/31/2018 - 3:00pm

The Administrative Office for United States Courts issues an annual report compiled from statistics collected by the Clerks of Court of the Bankruptcy Courts in bankruptcy cases filed around the nation. The report is required by the 2005 Reform Act and it reflects information garnered from consumer cases. You can find the full report and statistical tables at http://www.uscourts.gov/news/2018/08/27/bankruptcy-report-gives-details-2017-filers

Consumer filings in South Carolina decreased 0.70% in 2017.  In South Carolina, the median monthly income reported by individual debtors in chapter 7 cases was $2,407 per month, compared with $2,582 in the Fourth Circuit and $2,488 nationwide.  Median expenses in South Carolina chapter 7 cases were $2,574 per month, compared with $2,890 in the Fourth Circuit and $2,659 nationwide.  For chapter 13 cases, the median income in South Carolina was $3,288 per month, compared with $3,579 in the Fourth Circuit and $3,287 nationwide.  Median expenses in South Carolina chapter 13 cases were $2,450, compared with $2,947 in the Fourth Circuit and $2,616 nationwide.

South Carolina enjoys a slightly higher chapter 13 case completion rate than the rest of the country.  Nationwide, the plan completion rate was 48.38% for 2017, and in South Carolina the completion rate was 50.45%.  The Fourth Circuit had a slightly higher completion rate, at 50.88%.

A summary of the report and a comparison of South Carolina's data to the rest of the 4th Circuit and the nation can be found here.