Growth in bankruptcies slows in ’10

Associated Press / January 5, 2011

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RALEIGH, N.C. — The growth in bankruptcies around the country slowed significantly in 2010 from its breakneck pace in recent years, with about a dozen states recording a decline in filings from consumers and businesses, according to an Associated Press tally yesterday.

Filings collected from the nation’s 90 bankruptcy districts showed 113,000 filings in December, down 3 percent over a year ago. That followed a similar year-over-year decline for October. It had been four years since an individual month showed such an improvement.

The nation recorded 1.55 million filings in 2010, an increase of 8 percent from 2009 and a slower growth rate than the 32 percent jump recorded the year before and the 33 percent jump the year before that. Numbers indicated stark regional differences. Thirteen states recorded an annual decline, mainly in the South, with West Virginia leading the way with a 10 percent drop. The West, however, indicated ongoing growth in filings, with numbers rising in places like Hawaii, Utah, California, and Arizona.