Bankruptcy filings in the Buffalo/Rochester region have been doing something unusual lately: increasing, the Buffalo News reported today. The number of cases filed in July rose 24 percent from a year ago, to 353, according to the U.S. Bankruptcy Court's Western District of New York. Year to date, the number of cases filed in the region was up 2.5 percent from the same period a year ago, to 2,549. The increases are notable since the number of cases filed in the Buffalo/Rochester region on a full-year basis have fallen for seven straight years entering 2017. Over the past several years, bankruptcy experts have attributed the string of annual declines in filings to factors including the higher cost of going through the process, credit being extended to a smaller number of people and consumers spending more cautiously after the Great Recession. Read more.
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