Personal bankruptcies in the U.S. dropped by 12 percent last year, new reports say. Overall, 1.35 million Americans filed for chapter 7 or chapter 13 bankruptcy.

The apparent trend is reflected in businesses, too. The number of Chapter 7 and Chapter 11 bankruptcies filed this year is on the decline. Only 88 big companies, as opposed to 106 last year, filed for bankruptcy. It's also way down from the 211 filings in 2009. This comes in tandem with a fragile economy, and the decline has been steady for the past three years of economic turmoil. The 17 percent drop in bankruptcies includes chapter 7 and 11 filings by big companies.

While there are fewer major bankruptcies, the value of the companies seeking bankruptcy are higher than in the past. This is likely due to the $41 billion bankruptcy of MF Global Holdings Inc., which was the largest of the year and the eighth-largest in U.S. history.

This information is still good news, as it shows that businesses are finding ways to keep afloat, even during these trying economic times. There are some who fear that this is not a trend that will continue, however; they fear an upsurge in bankruptcies if businesses default on the loans for massive amounts of money. It is yet to be seen as to whether these businesses can handle their repayments.

Some expect there to be a dramatic increase in the filings of Chapter 7 and Chapter 11 bankruptcy among big businesses, but only time will tell.

Source: Los Angeles Times, "Bankruptcy filings by big firms fell 17% last year," Walter Hamilton, Jan. 10, 2012