Hawaii Bankruptcy Filings Lowest Level in 6 Years

According to the U.S. Bankruptcy Court, the number of bankruptcy filings in November 2013 dropped to the lowest level in nearly six years.  A total of 148 cases were filed in November, a 30 percent decrease from the same month a year prior.  Honolulu County had 98 cases filed or a 23 percent decrease.  Hawaii (Big Island) County had 23 cases filed, or a 21 percent decrease.  Maui County had 24 cases filed, or a 47 percent decrease.  Kauai County had three cases filed, as compared to nine filed in November 2012.  

In related news, according to Credit Karma, a personal finance company, Hawaii residents reduced their credit card debt to an average of $5,500 for the month of October as compared to $6,474 during the same month a year prior.  Hawaii residents had an average credit score of 664, which is the highest average for all 50 states.

Source: Honolulu Star Advertiser, 12-3-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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