POSTED: 01:27 p.m. HST, Jan 06, 2014
LAST UPDATED: 01:28 p.m. HST, Jan 06, 2014
The number of Hawaii residents and businesses filing for bankruptcy fell in 2013 to its lowest level in six years, according to a report from U.S. Bankruptcy Court.
Bankruptcy filings totaled 2,071 in 2013, down 18 percent from 2012. It was the fewest cases since 2007 when there were 1,381 bankruptcy's filed. Bankruptcy cases peaked at 3,954 in 2010 as residents and businesses struggled financially following the 2008-2009 recession.
The 130 bankruptcies filed in December was the lowest in any month last year.
On Oahu, bankruptcy filings fell 21 percent to 75 cases in December from 95 a year earlier. Hawaii County experienced a 60 percent decline to 12 cases from 30 cases during the same period last year. The number of filings in Maui County rose to 34 from 26, an increase of 31 percent. Bankruptcy cases in Kauai County rose to nine in December from eight a year earlier.