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National February Bankruptcy Filings Increased Slightly

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National February Bankruptcy Filings Increased SlightlyThe seasonally adjusted amount of bankruptcy filings made in the U.S. during February was up just 1 percent from January – or 11 percent on an unadjusted basis – largely because the first month of the year is always the slowest, according to the latest statistics from the National Bankruptcy Research Center. The number of total filings made during the month barely topped 100,000, and was about 8 percent lower than the number made in the same month last year.

[Resource: Bankruptcy Survival Guide]

Nevada remains the most affected by the filing crisis, with rates nearly twice as high as the national average of one filing for every 2,200 people, the report said. Georgia, Tennessee and California were also near the top of the list with rates about 1.5 times higher than the normal rate. Alaska had the fewest filings at about one-third of the national average.

[Resource: Improving Credit and Refinancing a Mortgage After Bankruptcy]

So far this year, four states have higher filing rates than they did in 2010, the report said. Utah, Delaware, California, and Idaho have all seen consumers deal with more problems so far in 2011.

Many consumers are struggling with bankruptcy as a result of the high unemployment rate and financial problems stemming from mounting credit card bills and the threat of foreclosure.

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