18 Aug 2009

Guam bankruptcy filings increase

10:29 am on 18 August 2009

The number of Guam bankruptcy filings is on the rise, as fewer residents and businesses are able to stay afloat during the economic downturn.

The Pacific Daily News reports that from January the first July the 31st this year, 131 people and companies filed for bankruptcy in the U.S. District Court of Guam.

In all of 2008, the court received 150 filings total -- a three-year high on its own.

If the pace continues, Guam will end the year posting a more than 50 percent increase in filings.