Bankruptcy filings down 11.8 percent despite Coronavirus Pandemic.

Contrary to popular assumption that bankruptcy filings would rise due to unemployment and other effects of the Coronavirus Pandemic, personal and business bankruptcy filings fell 11.8 percent for the 12-month period ending June 30, 2020, according to statistics released by the Administrative Office of the U.S. Courts. Annual bankruptcy filings totaled 682,363, compared with 773,361 cases in the year ending June 2019.

Bankruptcy filings tend to escalate gradually after an economic downturn starts. Following the Great Recession, new filings escalated over a two-year period until they peaked in 2010.

The statistics can be found here: https://www.uscourts.gov/news/2020/07/29/bankruptcy-filings-fall-118-percent-year-ending-june-30?utm_campaign=usc-news&utm_medium%09=email&utm_source=govdelivery