Bankruptcies at 3-year low in May
Bankruptcy filings fell by 20.4 percent year-over-year in May, from 2,845 to 2,264, the lowest number of bankruptcy filings since 2009. The drop also marked the largest year-over-year decrease since October 2006.
Year-to-date in May, there were 11,171 bankruptcy filings in Colorado, down 14.5 percent from year-to-date totals in May 2011.
Monthly bankruptcy totals have decreased year-over-year in Colorado for the past 16 months.
The appearance of sustained declines in year-over-year comparisons reinforces the idea that consumers are beginning to get their debts under control, according to the Division of Housing.
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