Monthly bankruptcy filings hit 33-year low in September | State
A modern new number of bankruptcy filings were filed in September in New Hampshire, with less than 50 on record.
Forty-eight individuals and businesses filed for protection in September.
The last time this number of monthly deposits was reached was in January 1988 – two months after the bankruptcy law was changed, making it difficult for people to seek bankruptcy protection. .
The previous modern record was set last June, with 51 deposits. Before that, they were 54 in January.
September filings totaled 15 fewer than August and 23 fewer than the number filed in September 2020.
For a historical perspective, in September 2010 there were 481 bankruptcy filings in the state – 10 times the number filed in September.
Bankruptcies have been at low levels since the start of the pandemic in March 2020, which most experts attribute to the huge amount of federal money and protections established in the wake of Covid-19. While the state stopped paying additional federal unemployment benefits in June, more federal help has arrived through the American Rescue Plan Act, and it’s possible Congress will pass more laws.
The number of filings by Granite State companies is also declining. Three personal bankruptcies contained business-related debt, up from four in August.
One company filed directly, compared to two in August:
• G&J Transportation LLC, East Kingston, filed September 10, Chapter 11. Assets: $ 1,593,307. Liabilities: $ 1,079,000.
These articles are shared by The Granite State News Collaborative partners. For more information, visit collaborativenh.org.