ALEXANDRIA, Va. — The American Bankruptcy Institute
highlighted that filings dropped 13 percent through the first three quarters of
this year compared to the same time span a year ago.

According to data provided by Epiq Systems, total bankruptcy
filings came in at 801,783 nationwide during the first nine months of this
year, down from the 921,927 total filings recorded during the same period a
year ago.

The 767,445 total noncommercial filings for the first three
quarters of 2013 represented a 13-percent drop from the noncommercial filing
total of 877,123 during the first three quarters of 2012.

Total commercial filings during the first nine months of the
year came in at 34,338, a 23-percent decrease from the 44,804 filings during
the same period in 2012.

Chapter 11 filings also fell during the first nine months of
2013. The 5,171 filings in the first nine months of 2013 represented a 14-percent
decrease from the 5,999 Chapter 11 filings during the first nine months of
2012.

"Sustained low interest rates and sluggish consumer spending
since the financial crisis have suppressed bankruptcy filings to 2008 levels," ABI
executive director Samuel Gerdano said. "Some individuals are too broke to
afford the cost to file for bankruptcy."

ABI reported that the 80,645 total bankruptcy filings in
September represented an 8-percent decrease compared to the 87,599 filings in
September of last year.

The 77,269 total noncommercial filings for September also
represented an 8-percent drop from last September's noncommercial filing total
of 83,543.

Total commercial filings for September were 3,376, a 17-percent
decrease from the 4,056 filings recorded during the same month last year.

ABI pointed out that Chapter 11 filings increased, however,
as the 579 Chapter 11 filings reported in September were 11 percent higher than
the 525 filings recorded in September of last year.

The Institute determined the average nationwide per capita
bankruptcy filing rate for the first nine calendar months of this year decreased
slightly to 3.45 (total filings per 1,000 population) from the 3.49 rate for
the first eight months of the year.

The average daily filing total in September was 2,688, an 8
percent decrease from the 2,920 total daily filings registered in September of
last year.

States with the highest per capita filing rates (total
filings per 1,000 population) through the first nine months of this year were:

1. Tennessee (6.74)

2. Georgia (5.90)

3. Alabama (5.80)

4. Utah (5.34)

5. Indiana (5.24)

ABI partnered with Epiq Systems — provider of managed
technology for the global legal profession — in order to provide the most
current bankruptcy filing data for analysts, researchers and members of the
news media.

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