StarBulletin.com

Isle bankruptcies climb higher


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POSTED: Saturday, January 30, 2010

Personal bankruptcy filings are up 29 percent this month from January 2009, according to preliminary figures from the U.S. Bankruptcy Court.

In total, including personal, business and other bankruptcies, 269 cases had been filed in January as of late yesterday afternoon, up from the 208 cases filed a year ago.

Some 209 Hawaii residents sought a discharge of their debt through Chapter 7 filings, up 23 percent from the 170 cases a year ago. Sixty Chapter 13 cases have been filed, up from 38 a year ago, a nearly 58 percent increase. Chapter 13 cases allow filers to make arrangements with creditors to repay their debts.

As of Friday afternoon the only Hawaii business to file for Chapter 11 reorganization was ERT Sales of Hawaii Inc., parent company of Price Busters, the Seasonal Store and Let's Party Hawaii.