Bankruptcies fell in April for fourth time in 5 months

The number of bankruptcy filings in Hawaii fell in April for the fourth time in the past five months, according to data released today by U.S. Bankruptcy Court.

The 342 cases filed in April was 12.5 percent fewer than the 391 cases filed the same month a year earlier. With the exception of a 0.3 percent increase in March, the number of bankruptcy filings has declined on a year-over-year basis in every month since December. Bankruptcies are down 6.2 percent for the first four months of the year compared with the same period a year ago.

Bankruptcies skyrocketed from 955 in 2006 to 3,954 in 2010 because of the financial stress inflicted on individuals and businesses by the economic slowdown and recession.