Consumer Payment Card News

State Deadbeats

More than one out of ten personal bankruptcy filings were made last year by Californians, but the rate of increase is only 40% of the national average. Meanwhile, Ohio has emerged as one of the most populous states with the largest increase in consumer deadbeats, as bankruptcy filings increased 31.5%. Nationwide, personal bankruptcy filings set a new record last year with 1,452,030 filings, a 19.2% increase over 2000. Chapter 7 filings were up 22.8% during 2001, with a record 1,054,925 filings processed, according to the Administrative Office of the U.S. Courts. Stalled, but anticipated, bankruptcy reform legislation may have driven the record number of Chapter 7 filings.

    TOP  STATES  FOR  PERSONAL  BANKRUPTCY  FILINGS
STATE      2001            2000 INCREASE
California:  148,421      138,124      +7.45%
Florida:       85,216        71,284      +19.5%
Texas:        73,866        59,529      +24.1%
Illinois:        73,036        59,892 +21.9%
Ohio:          69,292        52,713      +31.5%
Georgia:      68,933        58,915      +17.0%
New York:   66,628        57,207      +16.5%
  (Source: Administrative Office of  the U.S. Courts)

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