For the first two months in 2025 bankruptcy filings have increased sharply over the same period in 2024 according to the latest reported statistics. Most increases have occurred in heavily populated States with large urban centers, as opposed to rural States. There has been an approximate 25% increase in Chapter 11 business filings and Chapter 7 personal bankruptcy filings. Chapter 7 is filed most often in Bankruptcy Court by individuals looking to discharge all of their debt and keep their assets that are exempt from attachment under the bankruptcy laws. Overall bankruptcy filings dropped sharply during COVID and picked up a bit after COVID but mostly remained low up until now. It remains to be seen what happens over the first quarter of 2025.