Atlanta
(2012-02-02)
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ATLANTA, GA
(WABE) -
In what could be an indication of a strengthening economy, both consumer and business bankruptcies are down.
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The Atlanta-based credit bureau Equifax reports commercial petitions for bankruptcy decreased 44% from their peak in the second quarter of 2009.
Personal bankruptcies peaked a year later, and since then, they've declined 26%.
"They are not completely correlated," says Raza Barazesh, senior vice president of Equifax's commercial division. "It seems the commercial part is improving much faster than individuals."
Despite the discrepancy, Barazesh says the data as a whole are a strong indicator that the economy is picking up.
Equifax says consumers' credit scores are also improving.
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