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Bankruptcy Rates Up Nationwide – Massachusetts Numbers Better than Some States

Massachusetts bankruptcies are up 35% for the first half of 2010. On the other hand, Massachusetts has one of the lowest bankruptcy filing rates historically.

Statistics compiled by the National Bankruptcy Research Center show that about one every 110 households have filed for bankruptcy protection in 2010. While the highest rates are in the Southwest and Southeast, particularly south Florida; rates are particularly strong in Nevada, Georgia, California and Utah. The states with higher bankruptcy rates than the national average include Alaska, DC, South Carolina, North Dakota, South Dakota and Texas.
New Hampshire bankruptcies are up 51.9% for the first half of 2010, with 4,635 Chapter 7 Petitions filed in the first half of the year. Massachusetts Chapter 7 bankruptcies filed during that period were 18,009. Another statistic worth noting is that there were 15,835 bankruptcies pending at the end of the half year in 2009, and 18,322 on July 1, 2010, and increase of 15.7 percent.