You're not alone in seeking bankruptcy relief – It is more widespread than you think.

You're not alone in seeking bankruptcy relief – It is more widespread than you think.

Bankruptcy filings in the United States and Florida provide a window into the financial struggles faced by individuals and businesses, influenced by economic conditions, debt levels, and demographic factors. As of April 9, 2025, national and state-specific data reveal trends in filing numbers, age, marital status, sex, and other relevant demographics, reflecting both broader economic shifts and regional nuances.

Nationally, bankruptcy filings have been on an upward trajectory in recent years, rebounding from a pandemic-era decline. In 2024, the U.S. recorded 517,308 total bankruptcy cases, a 14.2% increase from 452,990 in 2023, according to the Administrative Office of the U.S. Courts. This includes 494,201 non-business (personal) filings and 23,107 business filings. Early 2025 data suggest this trend continues, with 144,034 filings through Week 14, projecting an annual total of approximately 534,983 if the pace holds. Chapter 7 filings dominate, accounting for about 70% of personal cases (roughly 7,577 weekly), offering a quick discharge of unsecured debts, while Chapter 13, with its structured repayment plans, makes up most of the rest. This rise aligns with economic pressures like inflation, high interest rates, and the phasing out of pandemic relief, pushing household debt to a record $17.3 trillion by late 2023.

Demographically, bankruptcy filers nationwide span a range of profiles. Age-wise, the majority fall between 25 and 44, though filings among those 65 and older have grown in recent years, likely due to rising medical costs and fixed incomes. In 2023, the American Bankruptcy Institute noted a near-even gender split—48% female and 52% male—consistent over the past decade. Marital status data from older studies, like the 2020 Consumer Bankruptcy Project, show 42% of filers had children under 18, suggesting many are married or were recently divorced, with life changes like divorce often cited as a trigger. Median household income for filers typically ranges from $35,000 to $70,000—below the national median but above the poverty line—highlighting debt burden over income as the key issue. Medical debt (65% of filers) and income loss (78%) remain top reasons, with 25% also carrying student loan debt.

In Florida, a state with distinct economic and legal characteristics, bankruptcy trends mirror national patterns but with higher volume and per-capita rates. In 2023, Florida recorded 29,410 total filings, third-highest nationally behind California (38,597) and Texas (25,671), per U.S. Courts data. The Middle District of Florida alone saw 373 filings in a recent week in 2025, one of the highest regional concentrations when adjusted for population. Florida’s personal bankruptcy rate in 2023 was 145 per 100,000 residents—lower than states like Alabama (346.72) but significant given its 22 million population. Non-business filings dominate, with 30,685 in 2022, reflecting the state’s consumer-driven economy.

Florida’s demographic breakdown offers further insight. Age trends likely align with national data, with 25–44-year-olds forming the core, though the state’s large retiree population (over 20% are 65+) suggests a notable share of older filers, especially given Florida’s homestead exemption, which protects primary residences and appeals to retirees in bankruptcy. Gender data isn’t Florida-specific but likely follows the national 48/52 split. Marital status may skew toward single or divorced filers, as Florida’s divorce rate (3.5 per 1,000 people in 2022) exceeds the national average, and life disruptions often precipitate filings. The state’s median household income ($67,917 in 2023) is slightly below the national figure, but filers’ incomes are typically lower, burdened by unsecured debts like credit cards and medical bills. Florida’s high healthcare costs—41% of U.S. adults have medical debt—amplify this issue.

Other demographics highlight regional quirks. Florida’s diverse population (26% Hispanic, 16% Black, 54% White per 2023 Census estimates) suggests varied filing patterns, though race-specific bankruptcy data is scarce. Education levels among filers nationally (36% high school grads, 20% college grads) likely hold in Florida, with student debt less prevalent due to lower tuition costs at state schools. Geographically, urban areas like Miami and Tampa drive filings, tied to higher living costs and foreclosure rates, despite Florida’s judicial foreclosure process offering some defense.

In summary, bankruptcy filings in 2024–2025 reflect growing financial distress nationally and in Florida, with young-to-middle-aged adults, a balanced gender mix, and debt-laden households at the forefront. Florida’s unique retiree population and economic pressures add layers to this picture, making it a hotspot for bankruptcy activity amid a broader U.S. uptick.