Nebraska Bankruptcy Filings at Lowest They've Been in Years - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Nebraska Bankruptcy Filings at Lowest They've Been in Years

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Fewer people filed for bankruptcy in Nebraska in 2012 than in previous years.

The total bankruptcy filings hit 5,820, down 12 percent from 2011. The last time the number was as low was in 2007 when the total was 5,360.

Attorney Trev Peterson, who handles bankruptcies for a Lincoln firm, says improved economic conditions, especially in the housing market, have led to fewer foreclosures and have played a big role in the drop in filings.

Omaha attorney Sam Turco says the federal mortgage modification program has helped keep people out of foreclosure and bankruptcy.

In a news release earlier this month, American Bankruptcy Institute Executive Director Samuel Gerdano predicted that filings will fall again this year nationally.

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