Tuesday, December 16, 2008
Kotz / Law and Order We're No. 1! Tennessee Leads U.S. in Bankruptcy Filings!
Posted by Pete Kotz on Tue, Dec 16, 2008 at 2:45 PM
Okay, so forgive the exclamation points. It's just our way of trying to put a positive spin on some very depressing news.
It's of little surprise that bankruptcy filings are up this year. In the quarter ending September 30th, business filings are up 61 percent from a year ago. Consumer filings are up 33 percent. But what's scary is that Tennessee's personal filings are way up--the highest per-capita rate in the country, as a matter of fact.
Seven out of every 1,000 Tennesseans filed for bankruptcy in the third quarter this year. While that may not seem like a lot, it's twice the national average.
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