Nevada has Highest Chapter 7 Bankruptcy Rate
Overall and Chapter 7 bankruptcy rates were highest in Nevada, according to a recent report.
A recent release from the Administrative Office of the U.S. Courts showed that Nevada had the top per-capita bankruptcy rate in the 12 months prior to March 31, 2010.
According to the AOUSC, 11.7 people for every 1,000 in the state made some sort of bankruptcy filing during that period, which was more than twice the national average of 4.92.
The state also took the top spot for Chapter 7 bankruptcy. For every 1,000 people in the state, 8.52 made this type of filing. Nevada came in fourth for Chapter 13 bankruptcy with a rate of 3.01.
Given bankruptcy figures in the state, it should come as no surprise that homeowners in Nevada have had a hard time trying to avoid foreclosure. According to RealtyTrac.com, one in every 69 homes was in the process of foreclosure in April, which was five times the national average.
Nevada was not the only southwestern state facing a high bankruptcy rate. California came in eighth, while Arizona placed at 13th, the AOUSC said.
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