According to the U.S. Bankruptcy Court, there were just 167 bankruptcy filings for the state of Hawaii in October 2013. This was a decrease of 27 percent from the same month a year prior. The island of Oahu had 108 of those cases (a 19 percent decrease) while Hawaii County (Big Island) had only 14 cases (a 55 percent decrease). Maui had 35 cases (a 36 percent decrease) while Kauai Couty had a 10 cases (a 9 percent decrease).
In related news, according to Credit Karma, a personal finance company, Hawaii residents reduced their average credit card debt to $5,327 in September 2013 as compared to an average of $6,650 during the same month a year prior. While the state of Hawaii has the second highest average credit card debt, Hawaii residents have an average credit score of 664, which is the highest of all 50 states.
Source: Honolulu Star Advertiser, 11-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
