Bankruptcy Statistics
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Bankruptcy Statistics

Bankruptcy may be more common than you think, with people from all walks of life filing.

This page provides an overview of the most recent bankruptcy statistics, including:

Average Bankruptcy Filer

In 2009, the average bankruptcy filer was:

  • Employed
  • Middle aged
  • Married
  • Caucasian
  • Female
  • High school and some college education
  • Earning less than $30,000 annually

Reasons for Filing Bankruptcy

When asked to choose their reasons for filing for bankruptcy, responders selected:

  • Over-extended credit - 73.4%
  • Unexpected expenses - 55%
  • Reduction of income - 42.3%
  • Medical bills - 31.3%

Bankruptcy Filer Statistics for 2009

Gender

  • Female: 52%
  • Male: 48%

Age

Age Range Percent of Filers in 2009 Percent of U.S. Population
65+ 8.3 12.6
55-64 16.9 10.8
45-54 27.3 14.6
35-44 28.6 14.3
25-34 17.1 13.4
18-24 1.8 7.0

Employment

  • Employed: 59.3%
  • Self-employed: 10.3%
  • Unemployed: 16.2%

Education

  • Graduate degree: 6.3%
  • Bachelor's degree: 13.9%
  • Associate's degree: 8.6%
  • Some college: 28.9%
  • High school/GED: 36.9%
  • Primary school: 5%
  • None: 0.4%

Ethnicity

  • Caucasian: 74%
  • African-American: 11.4%
  • Latino/Hispanic: 7.2%
  • Asian: 4.0%
  • Other: 3.4%

Marital Status

  • Married: 65.1%
  • Single: 16.7%
  • Divorced: 14.4%

Bankruptcy Filings by State

State 2007 Non-Business Filings 2008 Non-Business Filings 2009Non-Business Filings
Alabama 23,550 29,021 34,180
Alaska 627 810 894
Arizona 10,411 18,463 33,022
Arkansas 11,455 13,494 15,964
California 69,110 126,819 200,806
Colorado 14,854 20,171 26,883
Connecticut 5,626 7,837 9,867
Delaware 1,696 2,284 2,960
District Of Columbia 676 823 1,067
Florida 39,433 63,726 92,158
Georgia 48,636 59,287 72,126wow!
Hawaii 1,330 2,001 3,010
Idaho 3,722 5,085 7,323
Illinois 40,416 54,559 71,778
Indiana 30,514 38,470 47,289
Iowa 6,793 7,783 9,787
Kansas 7,849 8,648 10,607
Kentucky 16,846 20,951 24,619
Louisiana 13,767 14,948 17,911
Maine 2,152 2,853 3,630
Maryland 13,353 17,377 25,341
Massachusetts 13,372 16,098 20,274
Michigan 44,996 53,656 67,265
Minnesota 11,382 15,743 20,597
Mississippi 10,955 11,993 14,217
Missouri 20,873 24,720 30,470
Montana 1,824 1,880 2,621
Nebraska 5,156 6,449 7,239
Nevada 10,632 18,211 28,830
New Hampshire 2,656 3,538 4,691
New Jersey 19,084 25,766 34,662
New Mexico 3,261 4,365 5,822
New York 39,144 45,281 54,124
North Carolina 19,113 21,824 26,373
North Dakota 1,147 1,307 1,528
Ohio 49,371 56,722 68,748
Oklahoma 8,774 10,764 13,615
Oregon 9,121 12,373 17,787
Pennsylvania 28,945 31,957 35,443
Rhode Island 2,712 4,156 4,926
South Carolina 7,147 8,234 9,353
South Dakota 1,276 1,382 1,760
Tennessee 39,056 46,679 53,138
Texas 40,451 41,134 50,868
Utah 6,281 9,028 14,159
Vermont 820 1,226 1,498
Virginia 18,884 27,580 35,338
Washington 15,091 21,121 30,379
West Virginia 4,342 5,141 6,458
Wisconsin 17,164 20,796 26,974
Wyoming 759 785 1,270

Bankruptcy statistics from 2009, the most recent year for which data is available. Statistics from Institute for Financial Literacy and the American Bankruptcy Institute.


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