Bankruptcy filings in Western New York have risen 3.2 percent since last May from 409 to 422. Officials in the area have said that this was the first local rise in filings since May 2010.
For the entire Western District of New York, which includes nearly 10 counties, the overall number of filings rose 1.8 percent. Bankruptcy experts have stated that the number of filings may not be a sign that the recession is slowing because there are still many people that are in trouble financially.
According to Buffalo News, local experts are trying to determine whether the slight increase is a sign that the economy is on its way to recovery or a sign of a big change.