bankruptcy filing trends in new york · 2020-02-27 · bankruptcy filings in new york calendar...
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Bankruptcy Filing Trends in New York
Prepared by: The American Bankruptcy Institutehttp://www.abi.org/ Updated
February 2020
New York
Prepared by: The American Bankruptcy Institutehttp://www.abi.org
State at a GlanceNew York National
Population (7/1/2019) 19,453,561 328,239,523
- Change since 2010 .4% 6.3%
- Foreign Born 22.6% 13.5%
Size (Square Miles) 47,126 3,531,905
Median Household Income $65,323 $60,293
Persons per Household 2.60 2.63
Per Capita Income $37,470 $32,621
Median Home Value $302,200 $204,900
Homeownership Rate 53.9% 63.8%
High School Graduate (or Higher) 86.5% 87.7%
College Graduate (or Higher) 35.9% 31.5%
Disabled 7.6% 8.6%
No Health Insurance 6.3% 10.0%
In Poverty 13.6% 11.8%
Source: U.S. Census Bureau January 2020
Bankruptcy Filings in New YorkCalendar Years 2000 - 2019
Year Total Chapter 7 Chapter 11 Chapter 13 Other Cases
2000 59,170 46,827 930 11,387 26
2001 69,060 54,936 1,428 12,660 36
2002 72,290 56,141 1,756 14,344 49
2003 75,799 59,711 1,181 14,837 70
2004 79,978 61,953 3,174 14,736 115
2005 109,601 94,648 1,050 13,840 63
2006 30,260 20,991 542 8,660 67
2007 40,519 28,330 514 11,614 61
2008 47,130 35,074 855 11,165 36
2009 57,739 44,772 2,082 10,823 62
2010 56,479 44,763 1,375 10,278 63
2011 49,056 40,899 854 7,269 34
2012 41,483 34,006 1,092 6,320 65
2013 36,940 30,066 752 6,086 36
2014 32,431 25,851 718 5,818 44
2015 30,256 22,925 788 6,473 70
2016 30,112 21,763 818 7,441 90
2017 33,421 22,248 1,040 10,065 68
2018 34,711 22,802 1,130 10,695 84
2019 35,171 23,064 1,103 10,921 83
0
25,000
50,000
75,000
100,000
125,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Total Bankruptcy Cases Filed in New York Calendar Years 2000 -2019
109,601
35,171
2019
57,739
More than 25%Above Average
Within 25% of Average
More than 25%Below Average
Total Filings Relative to Population 2000 - 2019
New York 32% BelowAverage
D.C. Puerto Rico
0.0
2.0
4.0
6.0
8.0
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
National New York
Bankruptcy Filings per 1,000 Population New York vs. National Average 2000 - 2019
2019
0
25,000
50,000
75,000
100,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 7 Cases Filed In New YorkCalendar Years 2000 - 2019
94,648
23,064
2019
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 11 Cases Filed in New York2000 - 2019
1,103
3,174
0
500
1,000
1,500
2,000
2,500
3,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 11 Cases Filed in the Southern District of New York2000 - 2019
Red = related casesin the Footstar case
2019
0
100
200
300
400
500
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 11 Cases Filed in New York*2000 - 2019
458Northern, Eastern, and Western Districts only.
2019
0
3,000
6,000
9,000
12,000
15,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 13 Cases Filed in New York2000 - 2019
14,837
10,921
2019
Percent of Cases Filed as Chapter 13 Calendar Years 2000 - 2019
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
National New York
2019
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Paym
ents
($ M
illio
ns)
Chapter 13 Cases in New York Amount (in Millions) Paid to Unsecured Creditors
Fiscal Years 2000 - 2018
Source: Executive Office for United States Trustees
0
10
20
30
40
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 12 Cases Filed in New York2000 - 2019
Note: Chapter 12 was not availablefor certain periods of time each yearfrom 2000 to 2004.
20
2019
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
National New York
Unemployment Rate By Quarter 2006 - 2019
Source: Bureau of Labor Statistics
Percent Change in Total Filings Calendar Year 2019 Compared to 2010
(National Average = 51% Decrease)
Amount of DecreaseUnder 40% 60.0% or More40.0% – 59.9%
Puerto RicoD.C.
-38%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
New York National
Filing Trends By Quarter New York vs. National Average(Percent Change From Same Quarter One Year Prior)
Decline Over 5% Decline 0 - 5% Increase 0 - 5%
Bankruptcy Filing Trends Calendar Year 2019 vs. 2018
D.C. Puerto Rico
National Average = .2% IncreaseIncrease Over 5%
+1.3%
