2012 Nebraska Bankruptcy Filings Drop 12 Percent

By: Associated Press Email
By: Associated Press Email

Bankruptcy filings in Nebraska have fallen to their lowest level since before the Great Recession.

The total hit 5,820 in 2012, down 12 percent from 2011. The figure was the lowest since 2007, when the total was more than 5,360.

Attorney Trev Peterson handles bankruptcies for a Lincoln firm. He says improved economic conditions, especially in the housing market, have led to fewer foreclosures and have played a big role in the drop in filings.

Omaha attorney Sam Turco says the federal mortgage modification program has helped keep people out of foreclosure and bankruptcy.

In a news release earlier this month, American Bankruptcy Institute Executive Director Samuel Gerdano predicted that filings will fall again this year nationally.

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