Bankruptcy filings in the Western District of New York continue to decline compared to last year. 772 bankruptcy cases were filed in WDNY in March 2011, compared to 951 in 2010. This is a decrease of 18.8% compared to March 2010.
Some forecasters, myself included, had speculated that the decrease in bankruptcy filings late last year was in anticipation of the change on the New York bankruptcy exemptions that went into effect January 21, and that a surge of filings would follow the change in law. The steep decline in March belies that theory.
March filings dropped most dramatically in the Buffalo Division, falling 22.5% compared to March 2010, while filings in the Rochester Division dropped 12%. Nearly 38% of all bankruptcy cases filed in March were filed in the Rochester Division. Year to date, filings in Erie County (Buffalo), the most populous in WDNY, have fallen 18%, while filings in Monroe County (Rochester) have fallen only 3.5%.
Extensive detrails of bankruptcy filings this past month and in the past several years can be found at the web site for the WDNY Bankruptcy Court.