BANKRUPTCY FILINGS BY CHAPTER

Nebraska - 1987 to 2006

Type of Bankruptcy ¹

Year

Chapter 7

Chapter 9

Chapter 11

Chapter 12

Chapter 13

Total

1987

2,418

13

116

563

668

3,778

1988

2,407

4

84

152

691

3,338

1989

2,425

3

63

70

827

3,388

1990

2,499

2

68

86

1,382

4,037

1991

3,001

4

64

71

1,379

4,519

1992

2,990

2

57

97

1,039

4,185

1993

2,752

1

46

59

804

3,662

1994

2,774

0

19

45

604

3,442

1995

3,013

0

17

48

675

3,753

1996

4,279

1

23

72

928

5,303

1997

4,949

2

22

53

926

5,952

1998

5,168

0

16

49

884

6,117

1999

4,594

0

36

83

787

5,500

2000

4,707

0

34

30

858

5,629

2001

6,016

0

46

27

1,114

7,203

2002

5,986

0

60

25

1,652

7,723

2003

6,638

0

30

55

1,900

8,624

2004

7,050

0

43

2

1,897

8,992

2005

9,979

0

31

32

2,070

12,113

2006

2,782

0

29

23

1,307

4,141

Sources: Administrative Office of U.S.Courts, 2008, and U.S. Bankruptcy Court, District of Nebraska. 2006.

¹ Chapter 7 bankruptcy is also called "straight bankruptcy" or "liquidation." It is the simplest and easiest form of bankruptcy proceeding.

Chapter 9 bankruptcy is for “municipalities.” The definition of the term “municipality” is broad enough to include cities, counties, townships, school districts, and public improvement districts. It also includes revenue-producing bodies that provide services which are paid for by users rather than by general taxes, such as bridge authorities, highway authorities, and gas authorities. Chapter 9 provides essentially for a reorganization, not a liquidation.

Chapter 11 reorganization (note: it is a reorganization not a liquidation) for large debtors (persons or businesses with over $250,000 in unsecured debts and over $750,000 in secured debts).

Chapter 12 is special reorganization that exists only for use by farmers. As with all reorganizations some debts are discharged while the payments schedules of others are altered.

Chapter 13 petition is a reorganization of debts for individuals. Some debts are discharged in whole or in part and the remaining debts are paid over a period of time (usually three to five years).

Last Updated:

7-Mar-08

by Nebraska Databook

email:

michael.lundeen@ded.ne.gov