According to a report issued by the U.S. Bankruptcy Court, there were a total of 149 bankruptcy filing in the state of Hawaii for February 2014. This was an 11 percent decrease from the some month a year prior, and was the eighth consecutive month with lower comparable bankruptcies. Honolulu Country recorded a total of 92 bankruptcies in February, a decrease from the 106 that were filed a year prior. Hawaii County (Big Island) had 22 cases, a decrease from 27 a year prior, and there were seven cases in Kauai, a decrease from the eight that were recorded in February 2013. Maui County that saw an increase, but even then a statistically insignificant one, with 28 filings in February 2014 as opposed to the 27 filed during the same month a year ago.
The state of Hawaii's Department of Labor and Industrial Relations credit the lower number of bankruptcies to a strengthening job growth and a declining unemployment rate.
Source: Honolulu Star Advertiser, 3-4-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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