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Bankruptcy filings dip

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Bankruptcy filings in the Southern District of Iowa – which consists of 47 counties located in roughly the southern half of the state – are running at a slower pace than in 2009.

As of Dec. 27, the U.S. Bankruptcy Court for the Southern District of Iowa had received 6,100 filings, compared with 6,267 for all of 2009. Fewer consumers have sought bankruptcy protection this year than all of last year, though five more businesses had filed to liquidate their assets or reorganize finances than in all of 2009.

Chapter 11 filings, typically used by businesses attempting to shield themselves from creditors while reorganizing their finances, more than doubled to 27 so far this year from 12 in 2009.

There have been 5,487 filings by businesses and individuals seeking to liquidate their assets as of Dec. 27, compared with 5,634 for all of last year.