Nevada Has Highest Per-capita Bankruptcy Rate
The U.S. also saw an increase in filings during the 12 months ending on June 30 of this year.
A recent report showed that Nevada continued to have the highest bankruptcy rate in the country.
According to the American Bankruptcy Institute, which relied on data from the Administrative Office of the U.S. Courts, Nevada's per-capita rate came in at 11.74 during the 12 months that ended on June 30, 2010. While many consumers in the state are filing bankruptcy, it is also dealing with elevated
Nationally, the AOUSC said that period saw bankruptcy filings rise 20 percent when compared to the previous 12 months. Samuel Gerdano, executive director of the ABI, said that this year's total should reach past 1.6 million.
"Bankruptcy continues to be the last resort for many Americans seeking financial relief from household debt, unemployment and the economic downturn," Gerdano said.
The increase in bankruptcies comes despite new rules from the government that were put into effect in 2005 that made it more difficult for people to qualify for Chapter 7 protection.
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