According to a report released by the American Bankruptcy Institute on Jan. 19, 2012, the results of an ABI Quick Poll show that a majority of respondents believe that business bankruptcy filings will increase by more than 10 percent in 2012. Sixty-eight percent of respondents agree that business filings will increase by more than 10 percent while 25 percent of respondents disagree that filings will increase by 10 percent in 2012. Five percent did not know or had no opinion on the subject.
For calendar year 2011, the total commercial filings fell to 74,142, representing a 19 percent decline from the 92,070 business filings recorded in 2010. However, the fallout from the recent recession continues to take a toll on U.S. businesses as access to credit remains tight and debt levels are elevated.