According to statistics released by the Administrative Office of the U.S. Courts, total bankruptcy filings rose 13 percent, and business bankruptcies rose nearly 30 percent, in the twelve-month period ending Sept. 30, 2023.
These numbers, particularly those for Chapters 11 and 13, are reflective of a healthy and growing economy, as (contrary to popular belief) most people and businesses tend to file for bankruptcy when they have something they want to protect, rather than liquidate.
The article is available on the US Courts website at https://www.uscourts.gov/news/2023/10/26/bankruptcy-filings-rise-13-percent.
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