Hawaii bankruptcies hit lowest level in 5 years - Hawaii News Now - KGMB and KHNL

Hawaii bankruptcies hit lowest level in 5 years

HONOLULU (AP) - The number of Hawaii residents and businesses filing for bankruptcy fell in September to the lowest level in more than five years.

The Honolulu Star-Advertiser reported 153 bankruptcies were filed in September, down more than 4 percent from the same month a year ago. That's the smallest number since February 2008 when there were 141.

Most were filed under Chapter 7 of the federal bankruptcy code, which calls for the liquidation of debtor assets.

Oahu filings dropped 15 percent and Hawaii County cases fell 17 percent. Filings rose in Maui and Kauai counties.

Bankruptcy filings in Hawaii have been on a downward trend since 2010, as the job market has improved and consumer debt loads have declined.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly