Who is Filing Chapter 7 Bankruptcy
Chapter 7 bankruptcy may be more common than you think, with all types of people filing.
The latest statistics on who is filing bankruptcy reveal filers include people of all ages, races and background. Many filers have been to college or even hold graduate degrees. Many people turn to bankruptcy for help have jobs.
Dig into the bankruptcy demographic statistics from 2009 below. If you want answers about how Chapter 7 bankruptcy may help you and if you’re eligible to file, complete the form on this page. Get a free case evaluation with a local Chapter 7 bankruptcy and get answers.
Bankruptcy Filer Statistics
Here are the bankruptcy filer statistics broken down by gender, age, ethnicity, education, income, employment, marital status and cause.
These percentages reflect the proportion of filers who fit each category. The data is from 2009.
| Gender | Percent |
|---|---|
| Male | 49 |
| Female | 51 |
| Age | Percent |
|---|---|
| 18-24 | 7 |
| 25-34 | 13.5 |
| 35-44 | 14.3 |
| 45-54 | 14.6 |
| 55-64 | 10.9 |
| 65+ | 12.6 |
| Ethnicity | Percent |
|---|---|
| Caucasian | 74 |
| African-American | 11.4 |
| Latino | 7.2 |
| Asian | 4 |
| Native American | 0.7 |
| Other | 2.7 |
| Education | Percent |
|---|---|
| Graduate Degree | 6.3 |
| Bachelor’s Degree | 13.9 |
| Associate’s Degree | 8.6 |
| Some College | 28.9 |
| High School Degree/GED | 36.9 |
| Primary School | 5 |
| None | 0.4 |
| Income | Percent |
|---|---|
| Less than $20,000/year | 38.4 |
| $20-30,000/year | 20.9 |
| $30-40,000/year | 15.4 |
| $40-50,000/year | 9.7 |
| $50-60,000 | 6.5 |
| More than $60,000/year | 9.1 |
| Employment Status | Percent |
|---|---|
| Employed | 59.3 |
| Unemployed | 16.2 |
| Retired | 9.3 |
| Self-employed | 10.3 |
| Homemaker | 4.1 |
| Student | 0.8 |
| Marital Status | Percent |
|---|---|
| Married | 65.1 |
| Single | 16.7 |
| Divorced | 14.4 |
| Widowed | 3 |
| Cohabitating | 0.8 |
| Reason for Filing | Percent |
|---|---|
| Overextended on credit | 73.4 |
| Unexpected expenses | 55 |
| Reduction of income | 64.5 |
| Job loss | 42.3 |
| Illness/injury | 31.1 |
| Divorce | 15.1 |
| Birth/Adoption | 9.7 |
| Death of a family member | 7.5 |
| Retirement | 6.7 |
| Identity theft | 1.9 |
If you have questions about whether filing Chapter 7 bankruptcy may help you, simply complete the free form on this page to speak with a local Chapter 7 lawyer.