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Bankruptcies decline in Minnesota

Bankruptcies decline in Minnesota Click to Enlarge Photo:

Sep 30, 2013 at 7:15 am

ST. PAUL, Minn. (AP) 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 says we shouldn't assume filings are down because the economy is recovering.

She says bankruptcy filings are not necessarily aligned with the overall economy. Jacoby says the bigger factor driving bankruptcy filings is people's debt levels.

Mike Tanner

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