
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, September 28, 1993                   TAG: 9309280077
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Short

BANKRUPTCY CASES DECLINE

The number of American consumers and businesses filing for bankruptcy during April-June dropped to 229,406, down 5.5 percent from a year ago, the American Bankruptcy Institute said.

The institute, a nonpartisan research organization, attributed the decline to consumers' success in reducing their debt levels over the past 2 1/2 years. About 90 percent of bankruptcies are filed by individuals, the rest by businesses.

There were 223,007 bankruptcies filed during the first three months of 1993.

"These second-quarter figures indicate a significant recent downward trend in filings across the country," said Samuel J. Gerdano, executive director of the institute. "However, there are still areas of the country, on the East and West coasts, that are showing an increase in filings since last year at this time."

Among the areas where bankruptcies are rising, he said, are Hawaii; Brooklyn-Long Island, N.Y.; Delaware; Tyler-Beaumont, Texas; and Los Angeles.

Despite the downward trend, total bankruptcies this year probably still will exceed 900,000, making 1993 the third-worst year on record, after 1992 and 1991, Gerdano said.

by CNB