Bankruptcy Facts

1. Bankruptcies resulting from unpaid medical bills affected an estimated 2 million people in the United States during 2013
2. There were a total of 333,626 Chapter 13 bankruptcies filed in the United States during 2013.
3. There were a total of 8,980 Chapter 11 bankruptcies filed in the United States during 2013.
4. A Chapter 7 bankruptcy typically takes around six months to complete.
5. A Chapter 7 bankruptcy stays on your credit report for 10 years after it is arranged.
6. In Texas, Chapter 13 filing often costs less than $500 to begin a case.