Connecticut bankruptcies fell in 2011

Bankruptcy filings in Connecticut are on the wane, according to numbers released today in The Commercial Record.

The fourth quarter of last year was the slowest period for personal bankruptcies in 2011, the publication said. Fewer than 1,800 Chapter 7 bankruptcy petitions -- the most common type -- were filed in the last quarter of the year, compared with more than 2,300 in the same period of 2010.

For the year, Connecticut personal bankruptcy filings fell 14 percent, according to The Warren Group, the Boston-based company that publishes The Commercial Record. Filers last year numbered 9,571 statewide, down from 11,105 the previous year.

"I'm encouraged by the drop in bankruptcy filings," said Timothy M. Warren Jr., chief executive of The Warren Group. “It indicates that consumers are more optimistic about their ability to pay off debt and clean up their financial situations."