Bankruptcy Rates in the United States

Bankruptcy Rates in the United States

Is America filing more or less bankruptcies over the last few years?

According to the United States Bankruptcy court, several interesting trends have occurred in the last few years regarding America’s financial situation. Over the last year the number of private [personal] bankruptcies has gone up by 9% and the year before that was 31%. However, the rate of business bankruptcies has gone down by 7% and the year before that went down by 20%. Experts in the area suspect hope that the numbers in the business community will slowly shift over to the personal financial circle.  

Statistics on people who are recently filing bankruptcies:

Average Age: 38

44% file as couples

30% are women filing alone

26% are men filing alone

Two thirds of people filing have recently lost their job

Half have recently experience a serious health problem

The states with the highest bankruptcy filing are: Tennessee, Utah, Georgia, Alabama

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