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  • Arlene S.starstarstarstarstar5.0
    Excellent Lawyer, friendly and on top of things and reliable and efficient. I had to go through bankruptcy twice and I trusted them every time. I had the best experience with Robert and Read More
    March 20, 2024logo
  • Gustavo S.starstarstarstarstar5.0
    I am very satisfied with the service that they offered us. They were very professional and kept us informed at all times. I was looking for a bankruptcy attorney nearby and fount Robert Read More
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  • Paul B.starstarstarstarstar5.0
    I would like to share the amazing experience I have had with this Law firm. I was on the verge of loosing my house because I had not paid my property taxes. I looked for a Bankruptcy at Read More
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West Palm Beach Bankruptcy Statistics: Trends in Chapter 7 and Chapter 13 Filings

Written By: Attorney Robert Stiberman | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy Updated April 17, 2023
West Palm Beach Bankruptcy Statistics: Trends in Chapter 7 and Chapter 13 Filings

Bankruptcy is a legal proceeding in which a debtor declares their inability to pay off their debts. The West Palm Beach Division of the United States Bankruptcy Court oversees bankruptcy cases filed in the Southern District of Florida. According to the case filing statistics available on the court’s website, bankruptcy filings in West Palm Beach, FL have seen significant changes in recent years.

Chapter 7 Filings

Chapter 7 bankruptcy is also known as liquidation bankruptcy, in which a debtor’s non-exempt assets are sold to pay off their creditors. In West Palm Beach, Chapter 7 filings have decreased steadily from 2020 to 2022. In 2020, the West Palm Beach Division had 2,056 Chapter 7 filings. The number dropped to 1,425 in 2021, followed by 1,030 in 2022.

Chapter 11 Filings

Chapter 11 bankruptcy is primarily used by businesses to restructure their debts and assets. In West Palm Beach, Chapter 11 filings decreased slightly from 81 in 2020 to 62 in 2021, decreasing to 50 in 2022.

Chapter 13 Filings

Chapter 13 bankruptcy allows individuals with regular income to reorganize their debts and pay them off over three to five years. The West Palm Beach Division has observed a decline in Chapter 13 filings in the past few years. In 2020, there were 1,310 Chapter 13 filings, which decreased to 1,258 in 2021, followed by a minor decrease to 1,225 in 2022. Due to the anticipated rise in foreclosure filings, I expect a surge in Chapter 13 filings since they typically relate to the rise in Chapter 13 cases.

Conclusion

The West Palm Beach Division of the United States Bankruptcy Court has seen a significant decrease in bankruptcy filings in recent years. The reduction in filings could be attributed to several factors, including the government’s financial aid programs. If you are struggling with debt, you need to seek the advice of an experienced West Palm Beach bankruptcy attorney who can help you navigate the bankruptcy process and guide you toward the best possible outcome.

Source: United States Bankruptcy Court for the Southern District of Florida, West Palm Beach Division Case Filing Statistics. Retrieved from https://www.flsb.uscourts.gov/statistics/ft-lauderdale-case-filing-statistics.

Written By:

Attorney Robert Stiberman

Robert is an experienced bankruptcy attorney adept at handling Chapter 7, 13, and 11 filings, with more than 15 years of experience in bankruptcy cases. Robert represents clients in both consumer and business bankruptcy ... Read More

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