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Fewer people opt for bankruptcy

The number of people facing bankruptcy has fallen, according to the Ministry of Justice.

According to its figures, 17,931 petitions for bankruptcy were issued from January to the end of March. This is 15% fewer than those from the same period of 2007.

The number of individuals choosing bankruptcy – called debtors’ petitions – stood at 13,080 in the first quarter of 2008 – up from 11,674 in the previous three months, but still 13% down on the number of petitions in the same quarter of 2007.

Some 4,851 people were facing forced bankruptcy – creditors’ petitions – in the first three months of 2008, up slightly on the 4,583 of the previous quarter but down 15% on the same time a year ago.

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