4th Quarter 2009

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     The total number of bankruptcy filings in Hawaii increased 46.7 percent or 258 cases for the third quarter of 2009 from the same quarter of 2008.  This was the eleventh consecutive quarter-over-quarter increases since the first quarter of 2007.  For the first three quarters of 2009, total filings increased 58.6 percent or 845 cases from the same period last year. 
   
     The number of Chapter 7 filings, the largest category, increased 54.1 percent or 223 cases from 412 cases in the third quarter of 2008 to 635 cases in the third quarter of 2009.  Chapter 7 filings are intended to liquidate assets and discharge debt to provide the debtor with a fresh start.  For the first three quarters of 2009, Chapter 7 filings were up 65.2 percent or 719 cases from the same period last year.

     Chapter 11 filings increased from 4 cases in the third quarter of 2008 to 8 cases in the third quarter of 2009. For the first three quarters of 2009, Chapter 11 filings increased from 12 to 15 cases. Chapter 11 filings involve the structuring of repayment plans for companies. 
   
     In the third quarter of 2009, Chapter 13 filings increased 22.6 percent or 31 cases from 137 filings in the third quarter of 2008.  In the first three quarters of 2009, Chapter 13 filings were up 38.0 percent or 124 cases from the same period last year.  Chapter 13 bankruptcy allows debtors to work out repayment arrangements with creditors. 

     For quarterly bankruptcy statistics, see:  http://www.uscourts.gov/bnkrpctystats/statistics.htm.  For District of Hawaii monthly statistics, see http://www.hib.uscourts.gov/stats/index_stats.html

Total Bankruptcy Filings (Chapters 7, 11, 12, and 13)