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Here a sample of the news on this front: Commercial bankruptcy filings across all chapters increased 20% in the first 9 months of 2024 compared to 2023, with 22,550 filings versus 18,774 according to Epiq AACER. Meanwhile, commercial Chapter11 filings increased 36% Allianze Trade forecasts bankruptcies in the US to increase by 12% in 2025.
(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.”
Confirm that the bankruptcy has actually been filed with the bankruptcy court, and which type (usually Chapter 7 liquidation, Chapter11 reorganization, or Chapter 13 if an individual is operating as a sole proprietor). More About Purchasing Credit Reports Absorb the impact up front and be done with it.
In February, Epiq Bankruptcy reported that commercial Chapter11 bankruptcy filings climbed 118 percent year-over-year. The Imperative for Both Periodic Reviews and Ongoing Monitoring One of the things you should do immediately upon approving a customer for credit terms is schedule their first Account Review. A Case in Point.
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