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Region's bankruptcy filings decline in May

By WILL ASTOR - 6/4/2013 3:29:21 PM

Area bankruptcy filings were down 4.2 percent in May, dropping from 214 filed in May 2012 to 205 last month.

So far this year, bankruptcy filings in the Western District of New York’s Rochester division are down 10.3 percent with 903 cases filed versus 1,007 filed in the first five months of 2012.

Last month, 150 Rochester-area filers asked to discharge debts through Chapter 7 cases, 53 filed Chapter 13 cases and two sought Chapter 11 protection.

Chapter 7 filers seek to liquidate assets to pay creditors amounts ranging from zero to 100 percent of what they owe. Chapter 11 and Chapter 13 filers propose to pay creditors part or all of what they owe over time.

The federal courts’ Rochester division spans nine counties: Monroe, Livingston, Ontario and Wayne, along with Chemung, Schuyler, Seneca, Steuben and Yates.

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