Reuters

U.S. bankruptcy filings surged by 18% in 2023 on the back of higher interest rates, tougher lending standards and the continued runoff of pandemic-era backstops, according to an article from Reuters.

Michael Hunter, Vice President, Business Development, Epiq

“As anticipated, we saw new filings in 2023 increase momentum over 2022 with a significant number of commercial filers leading the expected increase and normalization back to pre-pandemic bankruptcy volumes. We expect the increase in number of consumer and commercial filers seeking bankruptcy protection to continue in 2024 given the runoff of pandemic stimulus, increased cost of funds, higher interest rates, rising delinquency rates, and near historic levels of household debt."

Read the full article here.


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Carrie Trent
Epiq, Director of Communications & Public Relations
Carrie.Trent@epiqglobal.com