debtconsolidationconnection.com
501 (c)(3) non-profit Organization
Free Consultation
U.S. Courts offer bankruptcy comparison map
By Marvin Milner on Jul 30th, 2010
People across the country have faced financial difficulties that led to bankruptcy last year, while many more continue to struggle with the possibility of having to file for protection in 2010.
When it comes to how some states fare when compared to others, the U.S. Administrative Office of the U.S. Courts recently unveiled an interactive map that provides statistical comparisons for 2009. Through it, consumers can see how their area matches up when it comes to the amount of debt that can be actually discharged in a bankruptcy court.
The states are divided into their bankruptcy court areas. So, for example, the Florida Southern District posts a mean net scheduled debt of $309,455, while Southern California is listed at $379,096.
Last year saw the total number of bankruptcy filings increase 32 percent when compared to 2008, while this year is on pace to beat that. If that happens, it would be the highest level seen since new laws were put into place about five years ago.
To avoid becoming part of that statistic, consumers may consider other options for dealing with past-due bills. One they could consider is debt settlement. While it can damage a credit score, it does so less than bankruptcy.
More Debt Settlement News
