Bankruptcy Knoxville

Bankruptcy is growing in every state of our Nation. But none more so than in Nevada at a rate of 10.49 filings per 1,000 people. That’s a full 1% of the population filing for bankruptcy. The national average is less than half that rate. And only one year ago Nevada’s rate was 6.39 per 1,000 residents. Nevada also leads the way with credit card delinquency rates of 1.98 per cent. The state is reeling from a housing bust and reduced travel to Las Vegas. It’s not surprising that their unemployment is at 13%. More from the Las Vegas Sun:

The Administrative Office of the U.S. Courts reported that nationwide, bankruptcies for the fiscal year ended Sept. 30 surged 34.5 percent to 1.4 million — with Nevada posting the highest rate in the nation.

Nevada led the nation in filings for the year with a rate of 10.49 per 1,000 people, well above the national rate of 4.52 filings per 1,000 people.

In 2008, Nevada was No. 2 in the nation with a filing rate of 6.39 per 1,000 people and the national rate was 3.38 filings per 1,000 population.

In Nevada in the 2009 fiscal year, bankruptcy filings totaled 27,560 — up 64.5 percent from 2008.

The numbers are in line with the state’s unemployment rate of 13 percent, which has soared from 7.7 percent one year ago as the recession reduced travel to Las Vegas and dramatically slowed the state’s construction and development industries.

Are you considering filing for bankruptcy? Call us today for a free consultation about your case. We can help you understand your options and get you back on solid ground.