South Florida personal bankruptcy petitions decline in March
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South Florida personal bankruptcy petitions decline in March


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Bankruptcy filings in Miami and other South Florida cities have experienced a slight drop this year.

Data that was released by the U.S. Bankruptcy Court in Miami show that personal bankruptcy petitions in South Florida fell 16 percent between February and March, according to the Sun Sentinel.

South Florida residents filed 2,008 bankruptcy petitions in March, which is down from 2,389 in February. The statistics indicate that consumers are faring better financially than they did a year ago, as personal bankruptcies have dropped 32 percent from the 2,969 filed in March 2010, according to the newspaper.

All of South Florida's three counties saw their bankruptcy filings fall in March. Miami-Dade County received the most petitions at 979, while 680 residents in Broward County filed. Palm Beach County saw the fewest personal bankruptcies at 349.

The Associated Press reports that the drop in bankruptcy petitions may be the result of home foreclosure cases that have been stalled in South Florida courts. According to the news source, foreclosure courts were established across the state last year to prevent those hearings from overwhelming the regular circuit court system.

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