ALEXANDRIA, Va. — The American Bankruptcy Institute said total
bankruptcy filings in the United States decreased 16 percent year-over-year
during the first quarter.

According to data provided by Epiq Systems, bankruptcy
filings totaled 263,516 in the first quarter, down from the 314,832 filings
registered in the first quarter of 2012.

Total commercial filings for the first three months this
year were 11,521, representing a 27-percent decrease from the 15,869 filings
during the same period a year ago.

Officials also noted the 251,995 total noncommercial filings
recorded in the first quarter represented a 16-percent decrease from the 298,963
filings a year earlier.

"Bankruptcy filings continue to fall due to persistent low
interest rates, reduced consumer spending and sustained deleveraging by
businesses and households," ABI executive director Samuel Gerdano said.

"We expect that the 2013 bankruptcy totals will be lower
than last year as companies and families remain committed to cutting costs and
shoring up their balance sheets," Gerdano added.

While the quarterly data showed a downward trend, a look a
just the March information showed mixed movements.

For March, the 102,627 total filings marked a 25-percent
lift from the 82,304 filings in February. But the amount was 16 percent lower
than the 122,238 filings in March of last year.

The 98,553 total noncommercial filings in March represented
a 25-percent increase above February's total of 78,603, but a 15-percent drop from
the 116,537 noncommercial filings in March of last year.

Total commercial filings in March increased 10 percent to
4,074 over the 3,701 filings in February, but were 29 percent less than the
5,701 commercial filings registered last March.

ABI went on to mention the average nationwide per capita
bankruptcy-filing rate for the first three months of the year increased to 3.40
(total filings per 1,000 per population) from the 3.11 filing rate of the first
two months of the year.

Officials said both totals are still below the 3.83 per capita
filing rate of 2012.

States with the highest per capita filing rate (total
filings per 1,000 population) for the first quarter of this year were:

1. Tennessee (6.70)

2. Georgia (5.77)

3. Alabama (5.71)

4. Illinois (5.35)

5. Nevada (5.03)

ABI has partnered with Epiq Systems, a leading 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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