Commercial, Personal Bankruptcies Fall

U.S. commercial and personal bankruptcy filings fell 2.6% in the year to Sept. 30 as personal finances improved in a strengthening economy, but bankruptcies still remain near record highs, a federal court report showed.

Filings dropped to 1.62 million cases in the year from a record-high 1.66 million the previous year, the Administrative Office of the U.S. Courts said.

Nonbusiness bankruptcy filings eased to 1.58 million in the year ended Sept. 30 from 1.63 million the year before, while business filings slipped to 34,817 from 36,183.