Bankruptcies fell -24.5% in 2021

A total of 3,863 bankruptcies were filed in 2021, representing 1,255 less than in 2020 (-24.5%). This decrease comes after 5,118 filings in 2020 – which also decreased about 33.3% in 2020. Bankruptcy filings have continued to decrease in the past years between loan moratoriums and government transfer payments which helped citizens pay off debts. Personal bankruptcies totaled 3,657 filings in 2021, a -25% decrease from 2020 and representing 94.7% of total filings. The amount of debt filed totaled $387.8 million in 2021, a decrease of -27.6% compared to 2020.

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