POSTED: 12:25 p.m. HST, Sep 03, 2013
The number of bankruptcy cases filed in Hawaii fell 19 percent in August, U.S. Bankruptcy Court reported today, putting the state on track for its third straight annual decline in bankruptcy filings.
There were 168 bankruptcies filed in August compared with 208 ithe same month a year ago. Through the first eight months of 2013 bankruptcy filings are running 17 percent below the same period in 2012.
Filings fell 2 percent on Oahu to 111 in August from 113 a year earlier. Hawaii County saw a 46 percent decline to 14 cases from 26 cases during the same period. The number of filings in Maui County fell to 33 from 59, a drop of 44 percent. Kauai County filings were unchanged at 10 cases.
The bulk of the filings in August -- 136 cases -- were filed under Chapter 7 of the federal bankruptcy code, which calls for liquidation of a debtor's assets. There were 31 filings under Chapter 13 and one under Chapter 11.