Drop in bankruptcy filings continues as 2016 ends

Another near record low reached in December
Bob Sanders,

New Hampshire closed out 2016 with a near-record low for personal bankruptcy filings in December and no businesses filing for protection in the month.

Some 118 New Hampshire individuals filed for bankruptcy protection in December, nearly 19 percent fewer than November and 11 fewer than December 2015.

The total number of filings in December was the lowest number of any month since August 1988, except for 2006, in the rush to file before the law was changed making it harder to file for protection.

All told, a total of 1,801 households and businesses filed for bankruptcy in 2016, almost 9 percent fewer than 2015. You’d have to go back to 1989 to find fewer annual bankruptcy filings, unless you count 2006.

There were three individual bankruptcies due to business-related debt in December, but none were filed by businesses themselves – the first time this has happened since NH Business Review started keeping track of filings back during the recession.

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