Bankruptcy Filings May Be Trending Upward

The latest statistics show bankruptcy filings are down compared to last year. In New Hampshire, filings are off 13%. In Maine, filings have decreased 26%. In Massachusetts, filings are lower by 16%. With a few exceptions, such as Texas and Alaska, bankruptcy filings have been off nationwide.

A closer look at the monthly trends, however, suggests an increase in new filings may be on the horizon. For instance, in Maine, 183 petitions were filed this past March, nearly matching the combined total of 190 filings in January and February. The New Hampshire data is similar, though not as dramatic. A total of approximately 250 petitions were filed in January and February. In March, New Hampshire filings increased to 217.

There is no denying bankruptcy filings are well off the mark compared to a year ago. However, filings over the first quarter of 2016 indicate bankruptcy courts may soon see an increase in traffic.