Wisconsin bankruptcy filings in 2017 lowest in 10 years

posted by Associated Press -

MILWAUKEE (AP) - Records show that Wisconsin had its fewest bankruptcy filings in a decade last year.

U.S. Bankruptcy Court figures show that filings decreased to 16,769 in 2017 from 16,835 in 2016. That continued a downward trend that started after the peak of almost 30,000 filings in 2010.

The Journal Sentinel reports that most of the bankruptcy petitions in Wisconsin were Chapter 7 filings, the type intended to give people a fresh start by wiping out debt such as overwhelming bills and credit card balances.

Wisconsin's estimated unemployment rate dipped to 3.0% in December, tying the lowest rate on record.

A state Department of Workforce Development report shows that the number of individuals employed in Wisconsin's private sector set a record in December, as did the size of the state's labor force.

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