Overall Bankruptcy Filings Continue to Decrease The American Bankruptcy Institute (“ABI”) recently reported that total bankruptcy filings in the United States decreased 21% in February, 2013, as compared to February, 2012. Consumer filings declined 21% and total business filings declined 29%. The ABI projects that bankruptcy filings will continue to decline in 2013 due to trends of reduced consumer spending, continued low interest rates, and more restrictive lending standards having been implemented. While bankruptcy filings were down compared to 2012, February 2013 filings represented an increase from January 2013. Consumer filings were up 5%, and business Chapter 11 filings were up 27% in February 2013 as compared to January 2013. The increase in business filings is fairly substantial. It may represent the situation we have been seeing on a regular basis where banks, now in a stronger financial position, are refusing to renew prior loans that they have repeatedly extended over the prior years since the start of the 2008 financial crisis. While costly in terms of time and money, Chapter 11 still presents an excellent method to force a longer term renewal on an unwilling bank.