bankruptcy filing trends in new jersey · bankruptcy filings in new jersey calendar years 2000...
TRANSCRIPT
![Page 1: Bankruptcy Filing Trends in New Jersey · Bankruptcy Filings in New Jersey Calendar Years 2000 -2019 Year Total Chapter 7 Chapter 11 Chapter 13 Other Cases 2000 37,305 23,599 326](https://reader035.vdocuments.site/reader035/viewer/2022070916/5fb6bd57c6e4cc67b57f6118/html5/thumbnails/1.jpg)
Bankruptcy Filing Trends in New Jersey
Prepared by: The American Bankruptcy Institutehttp://www.abi.org/ Updated
February 2020
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New Jersey
Prepared by: The American Bankruptcy Institutehttp://www.abi.org
State at a GlanceNew Jersey National
Population (7/1/2019) 8,882,190 328,239,523
- Change since 2010 1.0% 6.3%
- Foreign Born 22.2% 13.5%
Size (Square Miles) 7,354 3,531,905
Median Household Income $79,363 $60,293
Persons per Household 2.71 2.63
Per Capita Income $40,895 $32,621
Median Home Value $327,900 $204,900
Homeownership Rate 63.9% 63.8%
High School Graduate (or Higher) 89.5% 87.7%
College Graduate (or Higher) 38.9% 31.5%
Disabled 6.6% 8.6%
No Health Insurance 8.7% 10.0%
In Poverty 9.5% 11.8%
Source: U.S. Census Bureau January 2020
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Bankruptcy Filings in New JerseyCalendar Years 2000 - 2019
Year Total Chapter 7 Chapter 11 Chapter 13 Other Cases
2000 37,305 23,599 326 13,377 3
2001 41,484 26,766 385 14,333 0
2002 40,999 25,922 349 14,726 2
2003 42,377 27,256 354 14,764 3
2004 41,280 27,598 312 13,370 0
2005 49,597 37,443 251 11,903 0
2006 14,041 8,130 204 5,704 3
2007 19,948 12,402 385 7,160 1
2008 26,833 18,327 335 8,170 1
2009 36,233 27,458 428 8,329 18
2010 41,365 31,839 343 9,177 6
2011 37,957 29,878 322 7,754 3
2012 31,534 24,341 307 6,885 1
2013 29,370 22,439 323 6,606 2
2014 27,271 20,006 314 6,945 6
2015 25,356 17,684 235 7,436 1
2016 25,723 16,729 266 8,721 7
2017 27,015 16,626 351 10,033 5
2018 26,274 15,844 287 10,142 1
2019 24,810 15,443 240 9,124 3
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0
10,000
20,000
30,000
40,000
50,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Total Bankruptcy Cases Filed in New JerseyCalendar Years 2000 - 2019
49,597
24,810
41,365
2019
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More than 25%Above Average
Within 25% of Average
More than 25%Below Average
Total Filings Relative to Population 2000 - 2019
New Jersey 4% BelowAverage
D.C. Puerto Rico
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0.0
2.0
4.0
6.0
8.0
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
National New Jersey
Bankruptcy Filings per 1,000 Population New Jersey vs. National Average 2000 - 2019
2019
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0
10,000
20,000
30,000
40,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 7 Cases Filed In New JerseyCalendar Years 2000 - 2019
37,443
31,839
15,443
2019
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0
100
200
300
400
500
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 11 Cases Filed in New Jersey2000 - 2019
240
2019
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0
4,000
8,000
12,000
16,000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Chapter 13 Cases Filed in New Jersey2000 - 2019
14,764
9,124
2019
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Percent of Cases Filed as Chapter 13 Calendar Years 2000 - 2019
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
National New Jersey
2019
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$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Pay
me
nts
($
Mil
lio
ns)
Chapter 13 Cases in New Jersey Amount (in Millions) Paid to Unsecured Creditors
Fiscal Years 2000 - 2018
Source: Executive Office for United States Trustees
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0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
National New Jersey
Unemployment Rate By Quarter 2006 - 2019
Source: Bureau of Labor Statistics
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Percent Change in Total Filings Calendar Year 2019 Compared to 2010
(National Average = 51% Decrease)
Amount of DecreaseUnder 40% 60.0% or More40.0% – 59.9%
Puerto RicoD.C.
-40%
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-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
New Jersey National
Filing Trends By Quarter New Jersey vs. National Average(Percent Change From Same Quarter One Year Prior)
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Decline Over 5% Decline 0 - 5% Increase 0 - 5%
Bankruptcy Filing Trends Calendar Year 2019 vs. 2018
D.C. Puerto Rico
National Average = .2% IncreaseIncrease Over 5%
-5.6%