POSTED: 11:27 a.m. HST, Jan 3, 2013
LAST UPDATED: 11:27 a.m. HST, Jan 3, 2013
The number of Hawaii residents filing for bankruptcy fell to 2,528 in 2012, the lowest level in four years, according to data released today by U.S. Bankruptcy Court.
Last year’s total represented a 24 percent drop from the 3,325 cases filed in 2011. The number of cases filed in 2012 was the lowest since 2008 when 2,077 residents filed for bankruptcy in the midst of the last economic recession. Bankruptcy filings peaked at 3,954 in 2010.
December marked the 22nd consecutive monthly decline in filings with cases dropping 24.3 percent to 159 from the same month a year earlier.
December filings fell in all counties except for Hawaii County, where the rose by 50 percent to 30 from December 2011. The number of cases fell to 95 in Honolulu County, a 28 percent drop from December 2011. Filings fell by 43.5 percent to 26 in Maui County and by 33.3 percent to eight in Kauai County.