Bankruptcy Filings Rise 10%, and Courts Feel the Pinch
Supreme Court News
Personal and business bankruptcy filings rose 10 percent in the twelve-month period ending June 30, 2023, compared with the previous year. Bankruptcy totals are reported four times annually by the U.S. government.
According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 418,724 in the year ending June 2023, compared with 380,634 cases in the previous year.
Business filings rose 23.3 percent, from 12,748 to 15,724 in the year ending June 30, 2023. Non-business bankruptcy filings rose 9.5 percent to 403,000, compared with 367,886 in the previous year.
On a broader scale, according to the newest statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 418,724 in the year ending June 2023, compared with 380,634 cases in the previous year.
Bankruptcy totals for the previous 12 months are reported four times annually. Filings over any 12-month period have increased only rarely since filings peaked in 2010. Bankruptcies fell sharply after the pandemic began in early 2020, despite some early COVID-related disruptions to the economy.
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How do you qualify for workers compensation in Illinois?
The Workers’ Compensation Statute protects every employee in the State of Illinois.
A victim of a work-related injury or illness is eligible for many forms of compensation including reasonable medical care required to cure or relieve the impact of the injury, lost time from work, and any temporary or permanent disability.
Illinois Workers’ compensation is a system of benefits that:
– Pays for the medical treatment and medical bills incurred by work-related injuries and illnesses.
– Pays for the lost time from work
– Pays for any temporary or permanent disabilities
– Covers nearly every employee in Illinois
– and begins the very first day that you start working for your employer.
Employers in Illinois are required to purchase workers’ compensation insurance for their employees and the insurance companies fund the payment of worker’s compensation benefits for employees’ claims. In the event of a dispute, the Illinois Workers’ Compensation Commission (IWCC, or the Commission) enforces the state’s worker’s compensation laws and protects worker rights.