Bankruptcies in Alaska: a significant decline.(Alaska Trends for August 2006)

On a positive note, bankruptcies filed in Alaska have declined dramatically in the past year. During this time, the total number of bankruptcies filed in Alaska decreased by almost 62 percent. In May 2006, the total number of bankruptcies filed was 63, compared to 164 bankruptcies in May 2005. Conversely, however, in the period of one month, April 2006 to May 2006, the number of bankruptcies increased from 34 to 63.

This increase between months could indicate that the number of bankruptcies is on the rise once again, but only time will show the verity of that hypothesis. The majority of the filings were personal bankruptcies, with only five filed from Alaska businesses.

A large number of Alaska's bankruptcy filings occur in Anchorage. The total number of bankruptcies filed in May 2006 was 43, compared to 116 in May 2005. This decrease indicates a 63 percent decline in the number of bankruptcies filed in Anchorage over the last year.

Fairbanks also reported a significant decrease in the number of bankruptcies filed over the last year. In May 2006, there were only 12 bankruptcies filed, compared to 29 just a year prior. This represents a 59 percent decrease.

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