Rochester-area bankruptcy filings saw a 10.5 percent drop in April, falling to 221 from 247 in a year earlier.
The dip continues a long-term trend that saw filings in the Western District of New York’s Rochester division consistently dip through 2011 and continue to fall in 2012. So far this year filings have dropped 10.7 percent drop to 793 cased filed through April 30 from 888 cases filed in the first four months of 2011.
In April, 162 area petitioners filed Chapter 7 cases, 58 filed Chapter 13 case and there was one Chapter 11 filing.
Chapter 7 petitioners seek to liquidate assets under court supervision. Chapter 13 debtors make plans to fully or partly pay creditors in monthly installments over time. Chapter 11 debtors also file plans to pay creditors. Most are businesses looking to reorganize under court protection.
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