A dip in Hawaii
bankruptcy filings for
November ended three consecutive monthly
increases in what is historically one of the slowest periods of the year.
The 91 cases last month was a low for 2017 and one less than the year-earlier period, according to data released Friday by the U.S. Bankruptcy Court, District of Hawaii. The number of cases were the fewest since 89 were filed in January 2007 and marked the lowest for any November since 82 were filed in 2006.
The number of bankruptcy cases appears poised to fall for the seventh straight year. There have been 1,245 filings through the first 11 months, and, barring an unusually high number
of cases in December, the full-year total likely will be below the 1,382 cases
filed in 2016.
SEEKING RELIEFBankruptcy filings in November rose from a year ago.
Chapter 7: Liquidation
2017: 57 | 2016: 52 | Change: 9.6%
Chapter 11: Business Reorganization
2017: 1 | 2016: 0 | Change: –%
Chapter 13: Individuals with regular sources of income set up plans to pay creditors over time.
2017: 33 | 2016: 40 | Change: -17.5%
Total | 91 | 92 | -1.1%
Source: U.S. Bankruptcy Court, District of Hawaii
In last month’s filings, Chapter 7 liquidation — the most common type of bankruptcy — rose 9.6 percent, to 57 from 52 in the year-earlier period.
Chapter 13 filings, which allow individuals with regular sources of income to set up plans to make installment payments to creditors over three to five years, fell 17.5 percent to 33 from 40.
There was one Chapter 11 filing last month by a company doing business as Waiakoa Ranch on Maui. There were no Chapter 11 filings in November 2016. Chapter 11 filings typically involve businesses.
Across the state the number of cases was mixed among the four major counties. Honolulu County filings decreased to 61 from 69, and Hawaii County filings slipped to seven from eight. Maui County filings rose to 16 from 12, and Kauai County filings more than doubled to seven from three.
