POSTED: 09:06 a.m. HST, Aug 01, 2013
LAST UPDATED: 12:41 p.m. HST, Aug 01, 2013
There number of bankruptcy cases filed in Hawaii fell 10 percent in July from the same month a year ago, continuing a downward trend that started two years ago, U.S. Bankruptcy Court reported today.
There were 180 bankruptcies filed in July compared with 199 in July 2012. Through the first seven months of 2013 bankruptcy filings are running 16 percent below the same period in 2012.
Filings fell 15 percent on Oahu to 108 in July from 127 a year earlier. Hawaii County saw a 39 percent decline to 19 cases from 31 cases during the same period. The number of filings in Maui County rose to 42 from 33, an increase of 27 percent. Kauai County filings rose 38 percent to 11 cases from 8 cases.
The bulk of the filings in July — 123 cases — were filed under Chapter 7 of the federal bankruptcy code, which calls for liquidation of a debtor’s assets. There were 53 filings under Chapter 13 and four under Chapter 11.