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Report: Nev. bankruptcy filings down
by Tribune Staff
May 04, 2011 | 1038 views | 0 0 comments | 3 3 recommendations | email to a friend | print
NEW YORK — Though Nevada’s bankruptcy rate has fallen 15 percent over the last year, it continues to lead the nation with the highest filing rate on a population-adjusted basis, according to a new analysis released Wednesday.

At 4,123 per million adults, the state’s rate is almost twice the national filing rate of 2,063 per million. The actual number of filings statewide in April was 7,966.

“The disparity underscores how out of line filings in Nevada were last year, when they were more than 50 percent higher than those in any other state for much of the year,” said Ronald Mann, a Columbia Law School professor who conducted the study.

Bankruptcy filings nationwide dropped 7 percent in April, continuing a downward trend that began at the start of the year.

The bankruptcy total for April was 135,000, down from 145,000 in March, and marked the fourth consecutive month that filings have decreased compared to 2010, said Mann, who compiled the figures for the National Bankruptcy Research Center.

“These are encouraging numbers given that, from 2007 to 2010, every month’s filings were higher than the filings for the same month in the previous year,” Mann said.

The other states with the highest filing rates per million residents in April were Georgia (3,412), Utah (3,291), Tennessee (3,272) and California (3,017). The lowest rate was in Alaska (690).

While the nationwide trend has indicated lower filing rates, Delaware and Utah have seen their rates increase more than 10 percent since last year.

In contrast, some states experienced rapid declines in filings, Mann said, with a drop of 33 percent in Vermont, 21 percent in West Virginia and 19 percent in Iowa.
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