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The number of Hawaii residents filing for bankruptcy protection in August eased slightly from July, but cases remained above the 300 mark for the sixth month in a row.
There were 329 filings in August compared with 345 cases filed in July, according to federal Bankruptcy Court statistics. The number of August filings was the lowest since February when there were 291 cases filed. The current cycle of bankruptcy cases peaked in April with 391 cases filed.
Filings also continued to ease on a year-over-year basis. The number of August filings was up 27.6 percent over August 2009. That was the smallest increase since last fall.
The bulk of the August bankruptcies in Hawaii – 265 – were Chapter 7 liquidation cases. Another 64 were filed under Chapter 13 of the federal bankruptcy code in which individuals with regular sources of income set up plans to pay creditors over time.
