**Updated March 23, 2011**
Sacramento is the capital of California ; the 2010 estimated population of the city is 500,200, the Sacramento Metropolitan Area includes El Dorado, Placer, Sacramento, and Yolo counties and has a combined population of approximately 2.66 million. These Sacramento bankruptcy statistics are provided with the intent to offer a brief overview on the overall economic health of the city in the past and moving forward.
Chapter 7 Bankruptcy Data Summary
- Q4 2010 were welcomed results because it marked the first time in four years that the filing number actually declined.
- Q3 2010 filings were only 1.4% higher than previous quarter suggesting Q4 – 2010 data may reveal a decline in total Chapter 7 filings.
- Q1 2010 numbers were approximately 326% higher than Q1 2007.
- Q2-2009 recorded an all-time high in 14 years with 10456 claims defeating the previous record in 1996.
- Sacramento has bucked state trends of increasing trends for bankruptcy claims. This is an indicator that economic problems arrived long before 2008 yet improvements have slowly and steadily, begun to turn the economy around.
- This doesn’t mean that Chapter 7 filings have not hit new highs every period (using 2007 as the base year.)
- Chapter 7 claims have steadily declined since 2007 (and prior periods, however, that data is not included).
Chapter 13 Bankruptcy Data Summary
- Unlike Chapter 7 claims, Chapter 13 claims do not have a downward trend of percentage increase in filings. The rate of increase bounces between 7-9% on average.
- Q4 – 2010 data hit another all-time high, but the rate of increase slowed to 2%. A decline is expected in Chapter 13 filings by the end of 2011.
- Apart from Q1 – 2008 there has been no decline in Chapter 13 claims in four years.
- Prior to 2008 crash Q1 – 2008 saw the fewest claims in over a decade.
- Chapter 13 claims have risen about 177% from q 1 2007 to q 1 2010.
For experienced bankruptcy consultation contact San Diego Bankruptcy Attorney Cecilia Chen.
All data collected herein provided by RAND California from 2007 onward.