• Carl Rolsma

Bankruptcy Stats In The Upper Midwest. Am I Alone?

If you are considering filing a bankruptcy, you may wonder, “Am I alone?” Certainly not. As you can see from the statistics below, in just a one year period over 90,000 Chapter 7 consumer bankruptcy cases were filed in the Upper Midwest. The following is based on bankruptcy filings from April 1, 2019 to March 31, 2020 according to statista.com and from state population figures from worldpopulationreview.com.


STATE CH. 7 FILINGS (Non-Bus.) POPULATION CASES AS % OF POPULATION

Illinois 30,107 12,659,700 .00237 Michigan 22,599 10,045,000 .00225 Indiana 14,657 6,745,350 .00217 Wisconsin 11,228 5,851,750 .00192 Iowa 4,192 3,179,850 .00132 Minnesota 7,381 5,700,670 .00129


How does Wisconsin compare to other Upper Midwest states when it comes to filing for bankruptcy? Compared to other Upper Midwest states in our vicinity, Wisconsin is in the middle of the pack for non-business Chapter 7 bankruptcy filings as a percentage of the population. The number of Debtors is actually much higher because many of the cases include two debtors when they involve a married couple filing a joint case.

Recent Posts

See All

Bankruptcies Fall During the Pandemic

Although the pandemic has caused widespread economic disruption and financial hardship, to the surprise of some experts this has not been accompanied by a rise in personal bankruptcy filings. On the c

New Means Test numbers on April 1

Median income numbers for the bankruptcy Means Test in Wisconsin will go up on 4/1/2020 as follows: 1 person household: $52,730 2 person household: $68,363 3 person household: $83,607 4 person househo