Bankruptcy Filings Decrease in September 2013

According to the U.S. Bankruptcy Court, there were only 153 filings in September 2013.  This represents a 4.4 percent decrease from the same month a year prior and the lowest amount of cases since February 2008 when 141 cases were filed. Honolulu County saw a 15.3 percent decrease with only 94 filings.  Hawaii County (Big Island) saw only 15 filings, a decrease of 16.7 percent from a year prior.  Maui County saw an increase of 28 percent, or 32 filings.  Kauai County had 12 cases in September, twice as many as the six cases that they had during the same month in 2012.

In related news, according to personal finance company Credit Karma, Hawaii residents reduced their credit card debt to $5,235 in July 2013 from $7,142 in July 2012.  The state of Hawaii still has the highest average credit score in the country, tied with Washington D.C. at approximately 666 FICO.

Source: Honolulu Star Advertiser, 10-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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