According to data released by the U.S. Bankruptcy Court, a total of 3,325 bankruptcy cases were filed in the state of Hawaii in 2011. This was a decrease of 15.9 percent from the 3,954 filed in 2010. Of the bankruptcy cases, 2,562 of them were Chapter 7 asset liquidations. A total of 1,985 of the cases were filed in Honolulu, 683 were filed in Maui County, 438 filed in Hawaii (Big Island) County and 209 were filed in Kauai County.
The American Bankruptcy Institute noted that nationally bankruptcy filings had decreased 12 percent in the last year. Executive Director of the American Bankruptcy Institute, Samuel Gerdano, stated, " "The decline in total filings reflects the retrenchment in consumer spending associated with a down U.S. economy. As consumers continue to de-leverage their debt and access to credit remains tight, bankruptcy filings will continue to decrease."
