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Maine consumer bankruptcies down from 2019

(Brett Hondow)
(Brett Hondow)(KWQC)
Published: Sep. 8, 2020 at 12:11 PM EDT
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(AP) -Maine bankruptcies have been been down since the start of the coronavirus pandemic, but officials worry that trend is coming to an end.

Government financial support, banks’ willingness to defer loan and interest payments, and a moratorium on evictions and foreclosures have kept most consumers and businesses out of insolvency.

But bankruptcy experts forecast more people and companies will seek relief from insurmountable debt in the months ahead as aid runs out, courts reopen and banks call in loans, the Press Herald reports.

Maine consumer bankruptcies year to date were down 14% in July from 2019, according to the American Bankruptcy Institute.

Copyright 2020 The Associated Press. All rights reserved.

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