State Bankruptcy Filings Fall
A new report shows bankruptcy filings in Kansas fell 11.5 percent for the 12-month period ending in March compared with the previous year.
The report released Monday by the Administrative Office of the U.S. Courts shows Kansas lagged behind the national drop in bankruptcy filings of 14.4 percent during the same period. Nearly 8,800 Kansas residents and businesses filed for various types of bankruptcy protection. Businesses accounted for 221 of those bankruptcies.
The report says almost 5,600 of the bankruptcy filings were Chapter 7 liquidations. Another 3,100 people filed a Chapter 13 bankruptcy, which allows debtors to keep property and pay debts over time.
55 filed for reorganization under Chapter 11. Nine filed under a category reserved for farm bankruptcies.