There were more consumers last month who resorted to the U.S. Bankruptcy Courts for relief from their creditors. Alabama had the highest rate of bankruptcy.
U.S. consumers and businesses collectively filed 64,579 new bankruptcy cases during October. Filings worsened from 60,024 a month earlier.
There was also deterioration on a year-over-year basis, with the total number of bankruptcy cases filed ascending from 63,082
a year earlier.
The American Bankruptcy Institute released the latest numbers Friday.
For the first-10 months of 2017, the average U.S. per-capita bankruptcy filing rate was 2.53 filings per thousand in population, the same as the Sept. 30 year-to-date ratio.
Alabama’s per-capita rate was highest. Next was Tennessee’s 5.63, then 4.74 in Georgia, 4.22 in Mississippi and 4.10 in Utah.
Non-commercial filings accounted for 61,590 of October 2017’s total filings. Consumer activity worsened from 57,135 filings during September and 60,005
bankruptcies in October 2016.
Historical data from the ABI indicate there have been
621,792 consumer bankruptcies filed so far in 2017.