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Keeping Track: Personal bankruptcy

Fewer go broke thanks to strong economy

Personal bankruptcies in the US are at their lowest level in nearly three years.

According to the American Bankruptcy Institute, in Alexandria, Va., personal-bankruptcy filings totaled 314,564 in the third quarter of this year.

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While that number of filings remains high in historical terms, the sustained strong economy and low interest rates have helped many households reduce debt burdens - and the need to seek bankruptcy protection, the group says.

Meanwhile, the number of business bankruptcy filings last quarter has dropped to 8,986 - the lowest since 1979.

(c) Copyright 1999. The Christian Science Publishing Society