Tennessee leads the nation in bankruptcy

By R. Neal / January 31, 2008

According to a new report by the National Bankruptcy Research Center, Tennessee, Georgia, and Alabama have the top three highest bankruptcy rates in the nation. Arkansas, Mississippi, and Kentucky round out the top ten.

According to the Atlanta Journal Constitution, the number of bankruptcy filings in 2007 increased 40% nationwide. Factors cited include people trying to save their homes from foreclosure, small business failures, and staggering medical debt.

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