Bankruptcy filings down in Wisconsin - WAOW - Newsline 9, Wausau News, Weather, Sports

Bankruptcy filings down in Wisconsin

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MADISON, Wis. (AP) -- Bankruptcy filings are down this year in Wisconsin, but experts say it's too soon to take much comfort in the numbers.

U.S. Bankruptcy Court records show filings fell about 8 percent during the first half of the year, compared to the same period last year. About 14,700 bankruptcies were filed through June. About 80 percent of the filings are Chapter 7, which wipes out credit card, medical expenses and utility bills.

Some bankruptcy attorneys say more people who were higher on the income scale are coming in now to file. They were able to weather the economic downturn for a while by using retirement accounts and other means, but now are tapped out.

The Journal Sentinel (http://bit.ly/qh88qC ) says the Wisconsin figures reflect a decrease in bankruptcies nationally. They also declined about 8 percent.

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Information from: Milwaukee Journal Sentinel, http://www.jsonline.com

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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