Bankruptcy Filings Continue to Decline in 2011

The American Bankruptcy Institute recently released a report on bankruptcy filings in the United States in July, 2011.  The filings for July were down a whopping 18% as compared to July 2010. This continues a trend that has persisted for the last six months — month-by-month the bankruptcy filings for 2011 are lower than those for 2010.

Experts disagree on the reasons for this decline, but the ABI Executive Director, Samuel Gerdano, attributes it to the “deleveraging of household debts and tightening of consumer credit.”