According to the American Bankruptcy Institute and Epiq Systems, Inc., total US bankruptcy filings are down 12% from the same time last year, with commercial bankruptcies down 24%. As the ABI Executive Director Samuel J. Gerdano points out in this article, "'Low interest rates, tighter lending standards and high costs to file continue to be reflected in fewer bankruptcy filings."'

Interestingly enough, Tennessee had the highest per capita filing rate in February 2014. According to ABI/Epiq statistics, for every 1000 Tennesseans roughly 6 individuals filed bankruptcy, which is twice the national rate of 2.71. Georgia was a close second with roughly 5 individuals per 1000 seeking bankruptcy protection.