Bankruptcy activity in Hawaii flat in June
- By Dave Segal dsegal@staradvertiser.com
-
July 15, 2019
Hawaii bankruptcies were virtually flat in June and reached the midway point of 2019 on track to rise for the second year in a row.
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Hawaii bankruptcies were virtually flat in June and reached the midway point of 2019 on track to rise for the second year in a row.
The 124 filings last month were two fewer than in the year-ago period, according to new data released by the U.S. Bankruptcy Court District of Hawaii.
But bankruptcies have risen in four of the six months this year as economic growth in the state slows, and are up 11.6% from the halfway point of 2018. There have been 827 cases filed through June compared with 741 during the same time a year ago.
Bankruptcy filings had fallen seven years in a row before breaking that streak in 2018.
Filings for Chapter 7 liquidation, the most common type of bankruptcy, rose 6.3% in June to 85 from 80.
Chapter 13 filings, which allow individuals with regular sources of income to set up plans to make installment payments to creditors over three to five years, fell 15.2% to 39 from 46.
There were no Chapter 11 filings last month as well as the year-earlier period. Chapter 11 filings typically involve business reorganization.
Bankruptcy filings were mixed in the four major counties from the year-earlier period. Honolulu County filings rose to 95 from 91, and Maui County filings ticked up to 21 from 20. Hawaii County filings fell to five from 12, and Kauai County filings remained at three for both periods.
SEEKING RELIEF
Bankruptcy filings in June fell from a year ago.
2019 / 2018 / PCT. CHANGE
Chapter 7 85 80 6.3%
Liquidation
Chapter 11 0 0 0%
Business reorganization
Chapter 13 39 46 -15.2%
Individuals with regular sources of income set up plans to pay creditors over time
Total 124 126 -1.6%
Source: U.S. Bankruptcy Court, District of Hawaii
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