Bankruptcy Law Blog

Friday, May 29, 2015

Alabama Among Leaders of Bankruptcy Filings Per Capita

How many people are filing bankruptcy this year?

A recent study shows that Alabama has the second highest total of bankruptcy filings per resident so far this year, after Tennessee.  0.524% of Alabama residents declared bankruptcy in April.  This was a slight increase from 0.514% of Alabamans in March when it was also second to Tennessee.  Only 0.274% of Americans declared bankruptcy in April of 2015.  After Tennessee and Alabama, the states in which bankruptcy petitions were most common were Georgia, Illinois, Utah, and Indiana.

Bankruptcy filings across the nation have dropped significantly since 2010, when they were at their highest.  In April of 2010, there were 146,373 bankruptcy petitions filed.  In 2011, that number dropped to 129,898, and then to 109,022 in 2012, 100,779 in 2013, 88,163 in 2014, and 77,884 this year, just over half as many that were filed five years ago.  There was also a significant decline in the number petitions filed this month than there were last month, 81,622.   

So far this year, 283,587 Americans have declared bankruptcy, an average of 3,417 filings every day.  If you are one of the thousands of Americans who needs help managing debt and you are considering a bankruptcy, you should speak to a lawyer.  The experienced Alabama bankruptcy attorneys at Padgett & Robertson will assist you in determining the best course of action for your financial future.  Call (251) 342-0264 today to schedule an appointment.


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Padgett and Robertson assist clients with Bankruptcy, Personal Bankruptcy, Consumer Bankruptcy, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy and The New Bankruptcy Law in Mobile, Alabama and throughout southern Alabama. Alabama State Bar Association Regulations require the following: "No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers." 11 U.S.C. 528 of the U.S. Bankruptcy Code requires the following: "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”

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