NEW YORK–Commercial chapter 11 bankruptcy filings increased 20% in March 2025, with filings climbing to 733 from the 611 filings registered in March 2024, according to data provided by Epiq AACER, a provider of  U.S. bankruptcy filing data.

Total March commercial filings increased 10% to 2,727 from the 2,477 commercial filings the previous year, the analysis found, while small business filings, captured as subchapter V elections within chapter 11, decreased 1% in March 2025, to 196 from the 198 filings recorded in March 2024.

‘Persistent Economic Pressure’

“The 20% rise in commercial Chapter 11 filings…signals persistent economic pressure, mirrored by a 10% increase in total commercial filings to 2,727,” Michael Hunter, VP with Epiq AACER, said in a statement. “Meanwhile, credit card delinquencies have hit a near 10-year high, driven by rising interest rates and consumer debt burdens. In the FHA mortgage portfolio, we’re seeing elevated recidivism, with delinquency rates climbing to 11%, surpassing pre-pandemic levels as borrowers exiting forbearance face renewed strain.

“Adding to this, government job layoffs threaten to exacerbate financial instability for federal workers reliant on stable income to service debts,” Hunter continued in a statement. “While small business subchapter V filings dipped 1% to 196, the broader 13% surge in total bankruptcies…reflects a complex landscape where data-driven insights are vital for navigating distress across sectors.”

Additional Data Points

Additional data points reported by Epiq ACCOR included:

• Total bankruptcy filings were 50,189 in March 2025, a 13% increase from the March 2024 total of 44,471. 
• Individual bankruptcy filings also increased 13% in March 2025, to 47,462, up from the March 2024 individual filing total of 41,994. 
• There were 30,671 individual chapter 7 filings in March 2025, an 18% increase over the 26,102 filings recorded in March 2024. 
• The 16,713 individual chapter 13 filings in March 2025 represented a 6% increase from the 15,840 individual chapter 13 filings last March.
• The 131,998 total bankruptcy filings registered during the first calendar quarter of 2025 (Jan. 1 through March 31) represented a 10% increase over the 120,135 total first-quarter filings from the previous year. 
• Consumer filings also increased 10% to 124,696 filings in the first quarter of 2025 from the 112,949 consumer filings during the same period in 2024. 
• Individual chapter 7 filings during the first quarter of 2025 were 76,501, a 14% increase over the 66,831 individual chapter 7 filings during the same period in 2024. 
• Individual chapter 13 filings during the first quarter of 2025 were 47,928, a 4 percent increase over the 45,956 individual chapter 13 filings in the same period of 2024.

Commercial Filings

• Total overall commercial bankruptcies increased 2% in the first quarter of 2025, as the 7,302 filings were up slightly over the 7,186 commercial filings during the first quarter of 2024. 
• Conversely, the 1,760 total commercial chapter 11 filings were down 7% during the first quarter of 2025 from the 1,902 total commercial chapter 11s during the same period in 2024. 
• Subchapter V elections for small businesses were down 4% to 535 filings in Q1 2025 from the 559 filed during Q1 2024.