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South Florida sees month-to-month rise in bankruptcy activity in October

In today's post, we are going to talk about some statistics that were recently reported on by the Sun Sentinel which regard bankruptcy filings in Miami-Dade County and South Florida in October. These statistics appear to indicate that Miami-Dade County and South Florida saw some interesting trends in October when it comes to bankruptcy activity.

According to the statistics, Miami-Dade County and South Florida as a whole saw lower bankruptcy filing totals this October than they did in October of 2010. Reportedly, fewer bankruptcy filings were made in Miami-Dade County this October than were made in the county in October of 2010. Meanwhile, South Florida as a whole saw 18 percent fewer bankruptcy filings this October than it did in October of 2010.

However, the statistics also indicate that, in Miami-Dade County and South Florida, more bankruptcy filings were made in October of this year than were made in September of this year. Reportedly, 63 more bankruptcy filings were made in Miami-Dade County this October than were made in the county this September. Meanwhile, the October 2011 bankruptcy filing total for South Florida as a whole was 2 percent higher than the September 2011 total.

Thus, the statistics indicate that, while Miami-Dade County and South Florida saw year-to-year drops in bankruptcy filing totals in October, they also saw month-to month rises in such filings in October. This gives rise to some questions. What caused the month-to-month rise in bankruptcy filing totals in Miami-Dade County and South Florida in October? Will we continue to see such rises in future months? One wonders what the answers to these questions will ultimately turn out to be.

Source: The Sun Sentinel, "Bankruptcies in South Florida fell 18 percent from last year," Marcia Heroux Pounds, Nov. 2, 2011

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