Posted on Friday, December 3, 2010
South Florida continued to see upward movement in the number of bankruptcy cases filed in November compared to the same period last year.
However, those filings fell, month-over-month, especially in Miami-Dade County, where the rate of personal bankruptcies dropped 25 percent in November compared to October.
In the three-county area, personal bankruptcy filings were up 27 percent, to 2,644 from 2,084 in November 2009. But, personal bankruptcy filings fell 18.5 percent from a month earlier.
The number of business bankruptcy cases filed last month in the three counties rose 8 percent, to 111 cases from 103, year-over-year, but slipped 11.9 percent from October.
U.S. consumer bankruptcy filings totaled 114,587 in November, a 13.3 percent drop from October, but a 2.2 percent increase from a year earlier, according to the American Bankruptcy Institute.
“The drop in consumer filings from October is perhaps a positive step that the deleveraging of the U.S. consumer may be underway, after years of expanding consumer debt,” said Samuel Gerdano, executive director of ABI, in a news release. “Still, we anticipate that there will be nearly 1.6 million consumer bankruptcy filings by year end.”
Personal bankruptcy filings in Palm Beach County rose 13 percent in November, year-over-year, to 463 cases opened, but dropped 11.8 percent from the previous month.
There were 16 new business bankruptcy filings in Palm Beach County in November, one fewer than in November 2009, and 24 fewer than in October.
Personal bankruptcy filings in Broward rose 28 percent over last year, to 892, but dropped 10.8 percent from October.
There were 47 new business bankruptcy cases filed in Broward County last month, up from 38 cases last year, but down seven cases from last month.
In Miami-Dade County, personal bankruptcy filings rose 32 percent over last year, to 1,289 cases opened, but dropped 25 percent from a month earlier.
There were 48 new business bankruptcies filed in Miami-Dade last month, the same as in November 2009, but 16 cases more than in October.
The number of business bankruptcies can be affected by one company filing multiple petitions for various subsidiaries.South Florida Business Journal - by Paul Brinkmann