Those Trying to File Bankruptcy in Nevada Outpace National Average
Twice the national rate was seen in the Southwestern state.
According to a recent report, Nevada has seen twice the national average for consumers filing bankruptcy through May.
The National Bankruptcy Research Center reported for every 175 households in the country, one has had to file for bankruptcy during the first five months of this year. However, Nevada has seen double that rate, while other states like California and Arizona have also seen higher numbers.
For California, filings were up 36 percent, while Arizona saw an increase of 43 percent.
Overall, there were 137,000 filings reported for May, down from the 145,000 seen in April. However, on a year-to-date basis, the number of those filing bankruptcy in the nation is up 15 percent.
"Because April and May filings usually are at about the same level, this suggests that bankruptcy filings were essentially constant through May, with perhaps a slight decline," the NBRC said.
Areas such as Nevada, California and Arizona were all hit hard by the housing crisis, which left many consumers facing the loss of their homes. Others may have had to lean on credit card debt to get by, which put them in a dangerous financial position.
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