April stats show lowest filings for that month
There were fewer bankruptcy filings in New Hampshire last month than in April since the statistics were provided by Concord Bankruptcy Court, and they date back to 1986. Yet filings have been on the rise since the record month set in January.
Some 58 individuals and businesses filed for protection in April, down six from the 64 filed in March, a jump from the 41 filed in January and 42 in February.
Yet they total almost 39% fewer deposits than in April 2021, when 95 deposited. To put things into perspective, there were 511 filings in April 2010 in the middle of the last recession, almost 9 times that number. In April 1986, there were 62 deposits.
“That must have been the absolute bottom. It’s unbelievable how scary it has been,” said William Gillen, a Manchester-based bankruptcy lawyer. He attributed the lull in filings to years of pandemic-related subsidies. “It’s not natural, the government’s hand interfering with the economic cycle.”
But he noticed a slight increase as the grants decreased.
The same goes for Sandra Kuhn, a Concord bankruptcy lawyer who also attributed the lull to a backlog in the courts. Now that the courts are starting to catch up, “other people are coming in after being prosecuted. They are under fire. »
No business filed in April, although there was one household filing with business-related debt.