Question

there were 936,795 bankruptcy filings in 2018. If there were 310,061 chapter 13 filings, what percent were not chapter 13

Answer 1

66.90% of the total bankruptcy fillings are not chapter 13 fillings.

What is bankruptcy?

This is a situation where the management of a company declares that it could no longer pay its debt obligations as it does have the cash resources to do so.

In this case, the total number of bankruptcy fillings is 936,795, out of which 310,061 are chapter 13 filings

fillings that were not chapter 13=936,795-310,061

fillings that were not chapter 13=626,734

fillings that were not chapter 13 as % of total fillings=626,734/936,795

fillings that were not chapter 13 as % of total fillings=66.90%

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