A new report by the Federal Deposit Insurance Corp. indicated that the number of people in Tennessee who filed bankruptcy during the first quarter of 2008 was more than twice the national average.
More people in Tennessee are filing bankruptcy than in any other state in the country although the number of people filing bankruptcy is up more than 25 percent nationwide.
Across the country, during the first quarter of 2008, three out of 1,000 people filed bankruptcy. In Tennessee, more than six people per 1,000 filed bankruptcy in the first quarter.
WorldNow News reported that although Tennessee leads the nation in filing bankruptcy, it also leads the nation in Chapter 13 bankruptcy, which allows some debtors to pay creditors back according to a schedule.
Tags: bankruptcy, filed bankruptcy, filing bankruptcy, Tennessee
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