Bankruptcy Filings Down; Credit Card Deficiencies Down
There is some good news for consumers after the first quarter bankruptcy numbers are in: the number of personal bankruptcy filings was down. Again. This was a continuation of the 2011 and 2012 trend; and a huge turnaround from the prior years when the number of personal bankruptcies, in Massachusetts and throughout the country, skyrocketed. The first quarter of 2013 filings were down 13% from last year’s first quarter. Furthermore, credit card delinquencies and chargoffs are below last years, indicating that consumers are in a much better position to pay their bills. For example, delinquencies are down 26%, which seems significant.
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