Bankruptcy

Georgia Second In Nation In Personal Bankruptcies

By Scott Riddle

The Atlanta Journal has an article discussing the dramatic rise in personal bankruptcy cases in Georgia.  See Georgia No. 2 In Rate of Personal Bankruptcies Last Year, by Carrie Teegartin.

Thousands of Georgians facing economic woes have given the state a dubious ranking: the second-highest personal bankruptcy rate in the nation.  In 2007, bankruptcy courts statewide processed one personal bankruptcy filing for every 65 households, according to statistics compiled by the National Bankruptcy Research Center. Only in Tennessee was personal bankruptcy more common, with one filing for every 59 households. ...

Bankruptcy filings across the nation were up significantly in 2007, and Georgia was no exception. Bankruptcy courts statewide processed 48,227 personal bankruptcy filings last year, an increase of 24 percent over the 2006 total, according to the research center.

In a comparison of the total volume of filings, irrespective of the rates, Georgia also stood out. Only California and Ohio had more 2007 filings than Georgia did.

The Northern District of Georgia is second in the nation in bankruptcy filings per district, behind the Eastern District of Michigan.  That district includes Detroit, which has the highest unemployment rate in the nation.

Full post as published by Georgia Bankruptcy Blog on January 29, 2008 (boomark / email).