Hawaii bankruptcies continue to drop as the state economy keeps improving.

The number of filings in September fell 16.6 percent to mark the 54th straight month that bankruptcies have been flat or down from the same period last year, according to data released Thursday by U.S. Bankruptcy Court, District of Hawaii. There were 126 filings last month compared with 151 in September 2014.

Despite the statewide decline, Honolulu bankruptcy attorney Greg Dunn said his office hasn’t seen any recent drop-off in filings and is averaging about 25 cases a month.

“I haven’t noticed much of a difference,” he said. “We’re still doing about the same as last year.”

Through the first nine months of this year, there have been 1,191 filings statewide, an average of 132 a month. At that pace Hawaii is on track this year to see about 1,588 filings, which would represent the lowest total since 1,381 were filed in 2007.

Local economists have attributed declining bankruptcy filings to the state’s low unemployment rate, increased hiring, a surging construction sector and record visitor arrivals and spending, among other reasons.

Dunn acknowledged that the economy is more stable now and not as “crazy” as it was between 2008 and 2012.

But “everything goes in cycles, so we have to see what happens,” he said.

Dunn said the reason people file is the same as always.

“Too much debt, as usual, and not enough income,” he said. “I’m still seeing people getting laid off from second jobs or getting a reduction in pay. Of course, it’s not as much as in 2010, but it’s still happening.”

Dunn said 60 percent of the cases he handles are for Chapter 7 liquidation while the rest are Chapter 13, which allows individuals with regular sources of income to set up plans to pay creditors over time.

“I also do a lot of debt settlement where people come in and just want to settle their debts and avoid bankruptcy,” he said. “We’ll work out a settlement agreement (with the creditor) where we compromise the debt for a certain percentage that can be anywhere from 35 to 75 percent.”

For those who want to pursue bankruptcy, Dunn said the typical costs range between $1,500 and $2,500 — depending on the complexity — for a Chapter 7 case and anywhere from $2,500 to $4,000 for a Chapter 13 filing.

Last month Chapter 7 filings — the most common type of bankruptcy — fell 20.8 percent to 84 from 106 a year ago, and Chapter 13 filings slipped 6.8 percent to 41 from 44 a year ago. There was one Chapter 11 case, matching the same number in the year-earlier period. Chapter 11 filings allow businesses to reorganize.

Overall, bankruptcies fell in three of the four counties last month. Hono­­­lulu County bankruptcies dropped to 77 from 103, Hawaii County filings declined to 13 from 19, and Kauai County filings dipped to 5 from 4. In Maui County, filings rose to 32 from 24.