Tag: Consumer Bankruptcy Filings

Bankruptcy Trends, Consumer Bankruptcy

Consumer Bankruptcy Filings Increase in December 2025

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Unlike previous years, consumer bankruptcy filings in December 2025 increased both month-over-month and year-over-year, according to the latest data from G2 Risk Solutions. Consumer bankruptcy filings increased 5.8% from November 2025 and nearly 21% over December 2024. A departure from historical norms, bankruptcy filings tend to see a decline in the months of November and December, as many choose to defer the stress and filing fees until after the holidays.  The total number of consumer filings reached 44,890 in December.

Even though consumer bankruptcy filings have increased over the past five years, filings remain about 25% below pre-pandemic levels.

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If you have questions on this topic or are in a financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can assist you and address all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade Garcia McMaken has been helping people from all walks of life build a better tomorrow. Our attorneys help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild, and recover. The day you hire our firm; we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

Bankruptcy Law, Legal Awards

Timothy S. Kingcade Named a Top 3 Bankruptcy Lawyer in Miami for 2026

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MIAMI (January 17, 2026)– Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy law firm of Kingcade Garcia McMaken  has been named one of the Top 3 bankruptcy lawyers in Miami, FL by Three Best Rated®. Kingcade obtained the highest score out of all the nominees, and it marks the 11th consecutive year he has received this honor.

“I am honored and humbled to be recognized as a Top 3 Bankruptcy Lawyer by Three Best Rated 11 years in a row,” said Timothy S. Kingcade. “Beyond managing the legal aspects, we provide our clients with protection and peace of mind during the bankruptcy process. We know what our clients are going through when they come into our offices, and we treat them with the upmost care and respect during their most challenging times.”

Three Best Rated® was created with a goal of finding the top three local businesses, professionals, restaurants, and health care providers in each city. The selection process involves a rigorous 50-Point inspection and includes everything from evaluating the attorney’s reputation, history, client reviews, ratings, complaints, satisfaction, trust, pricing, and overall excellence, forming the basis of the TBR Inspection Score.

Attorney Timothy S. Kingcade founded Kingcade Garcia McMaken in 1996, a prominent law firm that handles a substantial number of bankruptcy filings each year. Timothy, along with his dedicated team, provide comprehensive legal representation to clients throughout South Florida.

Kingcade Garcia McMaken is committed to helping clients navigate the complexities of bankruptcy law. Their experienced attorneys guide individuals in understanding recent changes in bankruptcy regulations and the critical distinctions between filing under Chapter 7 or Chapter 13 bankruptcy. The firm also handles foreclosure cases alongside bankruptcy matters.

Throughout South Florida, Kingcade Garcia McMaken has earned a solid reputation as a dependable and effective advocate for clients from diverse backgrounds. The firm’s commitment to providing personalized service is evident, with their attorneys taking the time to clearly explain the available options based on each client’s unique circumstances. The personalized approach ensures that clients receive the individual attention and care they deserve during the legal process.

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Miami-based Kingcade Garcia McMaken, P.A. was established by managing partner and bankruptcy attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State of Florida in Chapter 7 bankruptcy and foreclosure defense cases. The firm is committed to providing personalized service to each and every client, clearly explaining the options according to the unique circumstances of his or her life. The office environment and the service provided are centered on a culture of superior client care for the financially disenfranchised. All partners and associates at Kingcade Garcia McMaken P.A. specialize in consumer bankruptcy and foreclosure and have dedicated their practices to this area of the law. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish. For more information, visit https://www.miamibankruptcy.com/ or call (305) 285-9100.

Bankruptcy Filings, Bankruptcy Trends, Consumer Bankruptcy

Experts Warn of a Summer Bankruptcy Spike Amid Economic Instability

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A recent report suggests that bankruptcy filings could soon be on the rise due to the economic hardships many families are facing.

The average American household carries over $105,000 in consumer debt. LegalShield’s Bankruptcy Index suggests that filings this summer could spike to a level not seen since the start of the COVID-19 pandemic.

If you are borrowing to make ends meet every month, bankruptcy can provide you with a way out. There are two paths for individuals considering personal bankruptcy. Filing for Chapter 7 involves liquidating assets to pay off debts, while Chapter 13 allows individuals to keep some assets and restructure their debt.

Certain debts, such as alimony and child support, cannot be discharged in bankruptcy. Student loan debt might be included, but only under specific circumstances. Credit counseling is another option. By following a strict budget and negotiating lower interest rates on outstanding debt, it is possible to get your finances under control.

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If you have questions on this topic or are in a financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade Garcia McMaken has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

Bankruptcy Trends, Business Bankruptcy, Consumer Bankruptcy

Bankruptcy Filings on the Rise

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Local courts are seeing a 10 percent increase in bankruptcy filings, according to a recent United States Courts report.

According to the report issued on July 31, the number of personal and business bankruptcy filings increased by this percentage in the 12-month period ending on June 30, 2023. The Administrative Office of the U.S. Courts reported that a total of 418,724 bankruptcy filings were made in the year ending June 2023, as compared to the 380,634 filed in the year ending June 2022.

Bankruptcy Trends

Consumer Bankruptcy Filings Increase in August

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Bankruptcy filings increased in the month of August for all chapters of consumer bankruptcy cases, according to a new study conducted by Epiq. A total of 35,355 bankruptcy filings were reported in August, which represents a 10 percent increase from the total of 32,276 reported in August 2021.

Commercial bankruptcy filings also increased by six percent in August. A total of 1,861 filings were made in August 2022, as compared to the 1,753 cases filed in August 2021. Individual bankruptcy filings increased by 10 percent. A total of 33,494 filings were made in August 2022 and 30,523 were filed in August 2021.

Consumer Bankruptcy, COVID-19

Consumer Bankruptcy Filings Level Off in August 2021

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Bankruptcy filings leveled off last month, according to figures from technology company, Epiq. The company compiled filings through their AACER bankruptcy program which showed that in the month of August, 32,225 new bankruptcy cases were filed, including Chapter 7 and Chapter 13 consumer bankruptcy cases. This figure is down slightly from the 32,391 reported in July 2021.

Despite the fact that consumer bankruptcy filings have decreased, commercial bankruptcy filings have increased approximately one percent from July 2021 with 1,724 cases filed.

Consumer Bankruptcy

Bankruptcy Filings Fall to Levels Not Seen Since 1985

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Bankruptcy filings have fallen to levels not seen since the mid-1980’s. The low number of filings are credited to the government aid and stimulus checks issued since the COVID-19 pandemic.

According to statistics from the Administrative Office of the U.S. Courts, 462,309 individuals and companies filed for bankruptcy in the fiscal year ending June 30, 2021, which is a 32 percent decrease from the previous year. The office also noted that this figure was the lowest one reported for a 12-month period since 1985.

Personal bankruptcy filings decreased 33 percent to approximately 444,000 over the course of a year. Business filings similarly declined, although by a lower percentage. Business bankruptcy cases dropped by 17 percent to approximately 22,500 filings.

Consumer Bankruptcy

Post-COVID Debt Continues to Grow as Bankruptcy Filings Fall in 2021

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Financial analysts had predicted a bankruptcy surge following the COVID-19 pandemic. Courts were closed for the majority of 2020, but as they began to reopen, it was believed that a massive wave of bankruptcy filings would follow. Oddly enough, that surge never came, and the number of consumer bankruptcy filings continue to drop.

According to figures from the American Bankruptcy Institute (ABI), 181,000 bankruptcy cases were filed in the U.S. by May 2021, which is 29 percent lower than the number of cases filed by that time in 2020. As many people were forced out of jobs or laid off with businesses temporarily or even permanently closing, consumers are continuing to rely on credit cards to cover expenses.