The most recent statistics from United States Bankruptcy Courts indicate that overall non-business bankruptcy filings are on the decline for the year 2012 when compared to the same period from the year before.

In the fiscal year ending on September 30, both Chapter 7 bankruptcy and Chapter 13 bankruptcy filings dropped significantly. Reports show that the number of Chapter 7 bankruptcies fell by 162,613, nearly 16 percent. The total number of Chapter 13 filings was reduced by close to 10 percent, from 417,530 to 375,521.

Bankruptcy filing rates varied by state, with Nevada topping the list and Alaska and North Dakota at the bottom.

Chapter 7 bankruptcy is the most common form of bankruptcy protection and makes up a huge majority of all bankruptcy cases. It involves liquidating your assets to make up for debts, while Chapter 13 bankruptcy allows a debtor to come up with a repayment plan. A Chapter 13 bankruptcy attorney can help you come up with a plan that will be approved.

Consumer credit card debt is also down for the year by as much as 1.5 percent.

Nevertheless, not everyone has recovered from the harsh economic times of the past few years just yet. If you are living with overwhelming debt, filing for bankruptcy may help you find relief and allow you to begin your journey towards a debt-free life. Enlisting the services of a bankruptcy lawyer can help you determine the best course of action.