HILO, Hawaii (AP) — U.S. Bankruptcy Court records show the number of bankruptcy filings in Hawaii has increased by more than 40 percent to 149 cases last month, marking the highest level for January in seven years.
The Honolulu Star-Advertiser reports last year's 1,490 bankruptcy cases brought an end to the state's seven-year streak of declining filings.
Of the filings last month, 103 were for Chapter 7 of the Bankruptcy Code, increasing from the 64 recorded the same period last year.
Honolulu bankruptcy attorney Blake Goodman says he expects the number of cases to continue rising for the next several years.
He says based on the historical trend since 1990, statewide bankruptcy filings have largely followed an eight-year cycle.
Information from: Honolulu Star-Advertiser, http://www.staradvertiser.com