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New bankruptcy filings fell in state, U.S.

Bankruptcy filings in Maryland dropped 7.2 percent in calendar year 2012, compared to a 13 percent decline nationwide, according to numbers released Monday by the Administrative Office of the U.S. Courts.

The difference between Maryland and U.S. figures was even more pronounced for business bankruptcies, nearing double digits. However, business bankruptcies make up only about 2.5 percent of Maryland’s filings.

All told, new filings in the U.S. Bankruptcy Court in Baltimore and Greenbelt reached 23,814 last year, compared to 25,662 in 2011. Nationally, 1.2 million bankruptcies were filed in 2012, compared to 1.4 million in 2011, the administrative office stated Monday.

New filings in Maryland were down nearly across the board:

(bullet) Non-business filings — which account for the vast majority of bankruptcies in the state and nationwide — also dropped 7.2 percent in Maryland, to 23,200 in 2012 from 25,004 in 2011.

Of those, Chapter 7 “liquidation” filings fell 6.7 percent, Chapter 11 “reorganization” filings decreased 15 percent and Chapter 13 “individual debt adjustment” filings dropped 8.9 percent, according to the administrative office.

Nationally, non-business filings fell 13.3 percent, to 1.18 million in 2012, from 1.36 million in 2011. Chapter 7 filings dropped 14 percent, Chapter 11 filings fell 16.8 percent and Chapter 13 filings declined 9.7 percent nationwide, the administrative office stated.

(bullet) Business bankruptcy filings in Maryland slid 6.7 percent, to 614 in 2012 from 658 in 2011. Chapter 7 filings were down 8.5 percent and Chapter 11 filings fell 1.3 percent. Chapter 13 business filings broke the trend of decline, as those filings remained the same, according to administrative office data.

Business filings nationwide fell 16.2 percent, to 40,075 in 2012, from 47,806 in 2011. Chapter 7 filings dropped 19 percent, Chapter 11 filings fell 8.9 percent and Chapter 13 filings 10.4 percent, the administrative office added.