ATLANTA (AP) — Georgia has the third-highest bankruptcy rate in the nation.
The Atlanta Journal-Constitution reports that one in 50 households in the state declared bankruptcy in the first 11 months of 2009.
Statistics compiled by the National Bankruptcy Research Center showed that federal bankruptcy courts in Georgia handled 66,925 filings from January to November 2009. That’s 22 percent more than during the same period in 2008.
The center says only Nevada and Tennessee showed higher rates of personal bankruptcy.
Nationwide, there were nearly 1.3 million personal bankruptcy filings between January and November 2009. That’s up 32 percent over 2008.
Experts say high unemployment, a crashed real estate market and creditor-friendly laws were among the causes.
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Information from: The Atlanta Journal-Constitution, http://www.ajc.com
State News
January 2, 2010
Ga. has 3rd-highest bankruptcy rate in the nation
- State News
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Correction: Dog Attack story
In a May 18 story about a dog attack on a father and his two children, The Associated Press reported incorrectly that the dogs’ owner was hurt as he helped get the animals back into the house.
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Correction: Dog Attack story
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