A modest reduction in the number of monthly bankruptcies that were filed by U.S. consumers left the pace of filings at its lowest level in five months.

A combined 62,196 new commercial and non-commercial cases were filed in the nation’s bankruptcy courts last month. It was the slowest month since February’s fewer than 57,000.

June’s bankruptcy filings numbered an upwardly revised 63,728. In July of last year, commercial and non-commercial bankruptcies were reported at an upwardly revised 61,433 new cases.

Source: Mortgage Daily