Bankruptcies Down in Norfolk County, State in 2011
Double-digit percentage drops in bankruptcies in 2011.
Both Norfolk County and Massachusetts saw double-digit percentage drops in bankruptcy filings in 2011, according to numbers released last week. The data, compiled be financial information firm The Warren Group, showed Chapter 7, or personal, bankruptcies fell 16 percent from 2010 to 2011 in both the county and the state. The county had filings fall from 1,348 to 1,134 during that time period, while state filings fell from 17,496 to 14,716. Chapter 13 bankruptcies, which are used to arrange three- or five-year debt-repayment plans, also fell substantially. The county saw a 14 percent decline (from 536 to 463), while the state had a 11 percent decrease (5,392 to 4,813). Chapter 11 filings, which is used by business bankruptcies and refilings…
