According to a report issued by the U.S. Bankruptcy Court, there were a total of 2,071 bankruptcy filings in 2013. This was a significant 18 percent decrease from the 2,528 cases that were filed in 2012 and the fewest number of cases filed since 2007. Industry experts are attributing the few bankruptcy filings to a stronger job market and lower consumer credit card debt. Credit Karma, a personal finance company, has noted that Hawaii Consumers had an average credit card debt of $5,257 in November 2013, as compared to the $6,451 average credit card debt in November 2012.
Source: Honolulu Star Advertiser, 1-7-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
