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According to data from the ""Warren Group"":http://www.thewarrengroup.com, Chapter 7, Chapter 13, and Chapter 11 bankruptcy filings in Massachusetts saw double-digit decreases year-over-year in 2012.
Bay State Chapter 7 bankruptcy filings decreased 18 percent over a one-year period after numbering 11,964 in 2012, down from 14,716 in 2011. Chapter 7 filings accounted for more than 74 percent of Massachusetts' bankruptcy filings in 2012, according to the Warren Group.
Chapter 13 bankruptcy filings also saw a significant decrease and fell 17 percent to 3,991 in 2012, down from 4,813 in 2011.
Chapter 11 filings dropped 29 percent to 152. Chapter 11 bankruptcy is typically used by businesses and allows them to restructure their debt.
The total for Chapter 7, Chapter 13, and Chapter 11 bankruptcy filings reached 16,107 in Massachusetts, representing an 18 percent decrease from 19,744 in 2011.
