Bankruptcies decline in Minnesota

Published 9:49 am Monday, September 30, 2013

ST. PAUL — The number of bankruptcy filings in Minnesota has dropped significantly since their peak in 2010.

Court records show bankruptcies are down 35 percent since then.

Melissa Jacoby is a bankruptcy expert at the University of North Carolina at Chapel Hill. Jacoby said that we shouldn’t assume filings are down because the economy is recovering.

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She said bankruptcy filings are not necessarily aligned with the overall economy.

Jacoby said the bigger factor driving bankruptcy filings is people’s debt levels.