Bankrupt in America: 2009 Bankruptcy Filings Per State |

For the first nine months of 2009, bankruptcy filings reached 1.07 million; this number is expected to reach 1.4 million by the end of the year.

Bankrupt in America

This image depicts just how horrible the first half of 2009 was for a large portion of the country. The map contains a color for each state, representing the change in the number of bankruptcy filings for the first and second quarters in 2006 and 2009. The image then highlights the darkest shaded states, which are those that reported an increase in bankruptcy filings of 20,000 or more, and provides the specific number of filings.

According to the graphic, there were 10 states where bankruptcy filings increased by 20,000 or more in the first half of 2009. The best of the worst was Texas, where filings increased 67% from 15,766 in 2006 to 26,271 in 2009. Next, was Tennessee where filings jumped 85% from 14,481 to 26,784.

Now, we get to the states that saw bankruptcies double from 2006 levels. In Georgia, bankruptcies grew 100% from 18,225 to 36,532. New Yorkers suffered through a 121% increase in filings, growing from 13,082 to 28,954.

Many mid-western states endured the dismal economy together. Ohio reported an increase of 143% with 34,815 bankruptcies in 2009 compared to 15,023 three years earlier. Michigan, home to the Big 3 automakers, witnessed a 144% jump as filings increased from 14,675 to 35,800. Times were even tougher in Indiana where 24,096 individuals filed for bankruptcy, an increase of 148% from the 9,689 filings in 2006. Illinois suffered through the largest percentage increase among the mid-western states. In the first two quarters of 2009, bankruptcies soared 161% to 35,902 from 13,744 in the first half of 2006.

Unfortunately for Floridians, bankruptcy filings in Florida increased 307% from 11,339 to 46,116 in just three years. Surprisingly, one state saw its filings increase even more. In California, bankruptcies skyrocketed 493%, to a dismal 96,497 filings from a manageable 16,247 in the first two quarters of 2006.

The illustration also contains a table in which the bankruptcies per capita are ranked by state. It displays the 10 states with the highest number of bankruptcies per capita and the 10 states with the lowest number. I suppose Californians should feel somewhat better as they do not appear on the list. However, it appears most people in Nevada are struggling to make ends meet. In the state, for every 1,000 citizens, 11.24 filed for bankruptcy. That easily tops runner-up, Tennessee with 8.72 filings per 1,000 individuals. While there may not be a plethora of people living in Alaska, those who do appear to be financially savvy. A mere 1.38 out of every 1,000 Alaskans has filed for bankruptcy. The District of Columbia is runner-up with 1.96 filings per 1,000 citizens.

Finally, there are a couple of fast facts, which further emphasize the bleak situation. In an effort to update the miserable data, the image notes that between May and September, nearly 6,000 bankruptcies were filed nationwide per day. Additionally, for the first nine months of 2009, bankruptcy filings reached 1.07 million and the number was expected to reach 1.4 million by year’s end.

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