POSTED: 11:17 a.m. HST, Aug 1, 2011
LAST UPDATED: 5:07 p.m. HST, Aug 1, 2011
The number of Hawaii residents filing for bankruptcy fell in July for the sixth time in the past seven months, according to data released today by U.S. Bankruptcy Court.
The 268 cases filed in July were 22 percent fewer than in July 2010, the court reported. It was the lowest monthly total since January when 245 cases were filed.
The bulk of the filings — 221 cases — were filed under Chapter 7 of the federal bankruptcy code that calls for liquidation of a debtor’s assets.
Filings fell in all counties led by a 38 percent drop to 35 cases in Hawaii County. Filings fell by 22 percent to 168 cases in Honolulu County, by 14 percent to 19 cases in Kauai County, and by 13 percent to 46 cases in Maui County.