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National bankruptcies rise 32% in 2009

Accrding to several sources, bankruptcies in the United States rose 32% in 2009 compared to 2008. The Associated Press reported such a rise in a story dated January 4, 2009. The story reported the biggest increases were in the Western states of Arizona (77%), Wyoming (60%), Nevada (59%), and California (58%.)

The Wall Street Journal reported similar findings in a story filed online January 5. The Wall Street Journal story, using data collected by the National Bankruptcy Research Center, stated that Chapter 7 cases were up 42% in November 2009 compared to November 2008, while chapter 13 cases, where creditors receive some sort of repayment, were up only 12% over the same time period.

Even Canadian bankruptcies jumped in 2009: 45.5% in September, compared to a year earlier, according to the Canadian Press.

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