...Filings Declined at Stable Pace: Aggregate personal bankruptcy filings for 2014 were 12.1% lower year over year, following another double-digit annual decrease amid Fitch Ratings' full- year forecast of a 12%13% decline. An improving labor market, rising personal income levels and more positive macroeconomic conditions helped push the level of filings in 2014 to a record fourth consecutive annual decline. Economic Expansion Facilitated Improvement: U.S. macroeconomic factors slowly improved through 2014, marked by a steady drop in unemployment and lower jobless claims. Increasing consumer confidence levels spurred by rising equity markets and home values through the year contributed to the declining bankruptcy trends. Fitch's 2015 Projection: Fitch anticipates total bankruptcy filings to decrease again in 2015 by 8%10% to register a fifth consecutive annual decline. While this estimate reflects Fitch's belief that the macroeconomic environment will remain positive, the continued loosening...
