In a recent report, a credit repair law firm compiled information to assess the bankruptcy rate in every state and county in the country. While many of the counties that experience the highest per capita bankruptcy rates are situated in economically depressed regions, the report also showed the individuals that make a higher than average income are also exposed to a similar level of risk.
In their interactive map, you can highlight different counties to see the level of bankruptcies per capita and you can move around to compare different locations. Upon viewing the map, you see a heavy concentration of counties that have serious bankruptcy problems in the Deep South. The three counties with the highest rates of bankruptcy are located in Arkansas, Tennessee and Georgia respectively.
Jefferson County, Arkansas is the county that the report finds as having the highest rate of bankruptcies in the nation. Georgia has been found to have the most counties within the top ten for most bankruptcies per capita. Within Georgia, the following counties made the top ten: Screven, Berrien, Irwin, Murray and Candler. This makes for five of the top ten counties going to a single state. While Georgia may have the most counties in the top ten, the report shows that they are not the state with the worst overall bankruptcy problems. That title goes to Tennessee with Georgia, Alabama, Illinois and Utah rounding out the five states with the worst bankruptcy rates.
If all of this talk of the places with the worst bankruptcy problems has been a little depressing, there is some good news for the residents of Hawaii. In the list of states with the fewest bankruptcies, Hawaii took the number five spot with only Alaska, North Dakota, Vermont and Washington DC doing better.
Readers are encouraged to check out the report and view some of the included graphics. See where your county sits in regard to bankruptcy rates and compare it to the national average.