POSTED: 11:30 a.m. HST, Jul 1, 2010
LAST UPDATED: 11:34 a.m. HST, Jul 1, 2010
The number of Hawaii bankruptcy filings remained stubbornly high in June, eclipsing the 300 mark for the fourth month in a row.
Federal Bankruptcy Court statistics show filings jumped to 371 last month, a 36.9 percent increase over the same month a year ago. It was the second highest number of cases filed since October 2005 when changes to federal law made it more time-consuming and expensive to seek bankruptcy protection.
The bulk of the June cases — 307 — were filed under Chapter 7 of the bankruptcy code, which calls for the liquidation of assets.
Honolulu County led the way with 207 cases. There were 70 cases filed in Maui County, 67 in Hawaii County and 27 in Kauai County.