Bankruptcy Statistics in Oklahoma. Even as our nation begins the gradual climb to financial recovery, the price of bankruptcy continues to rise year after year. Research indicates that there are well over one-million cases of bankruptcy filed in the United States each year, including both personal and company filings. In 2009, there were a total of OF JUST ONE,402,816 bankruptcy cases filed, 1,344,095 of which were non-company and 58,721 of which were business entities. While the states with the best bankruptcy rates in the United States are Tennessee, Utah, Georgia and Alabama, the percentage of bankruptcy filings has increased by way of a great offer in most U. S. states over the past four years, including Oklahoma. Statistically, In 2007, the total amount of bankruptcy filings in Oklahoma was 8,742, 77% that were Chapter 7 while 23% were Chapter 1 3. In 2008, there were 10,858 bankruptcy filings in Oklahoma, 80% of which were Chapter 7, while 20% were Chapter 13. In 2009, there were 13,8-13 bankruptcy filings in Oklahoma; 83% were Chapter 7 and 17% were Chapter 1 3. This year, the cumulative amount of bankruptcy filings in Oklahoma was 11,278, 83% of which were Chapter 7 and 17% of which were Chapter 13. Oklahoma has experienced an increase of bankruptcy filings percapita every year, really almost doubling from 2. 44 filings per 1,000 people in 2007 to 4. 08 filings per 1000 individuals this year. Researchers have gathered info from instances of bankruptcy submitted, producing a account of the typical bankruptcy filer. It’s estimated that, by 2008, 44% of individuals filing for bankruptcy are partners, 30% are women filing alone, and 26% are men filing alone. Two out of three filers have lost their job and half have have seen a serious health condition. Fewer than 9% of bankruptcy filers haven’t suffered job loss, divorce or serious health-related problems.
Lessons Learned from Years with Money
In Oklahoma alone, there was an increase in percapita bankruptcy filings this year while not exactly double D that of 2007. More specifically, the percentage of individuals who were able to qualify for Chapter 13 bankruptcy reduced each year, indicating that less and less people are able to repay their debt over time, opting instead for Chapter 7 bankruptcy, also called “liquidation. ” As the tendencies of bankruptcy circumstances in Oklahoma and other states display, an increasing number of people each yr find themselves unable to spend their charges and mortgages on time, if at all, coinciding using the mind-boggling proportion of filers that have lost their careers or experienced a divorce or serious health-related issue.
What Do You Know About Records
You will find certain methods and needs required to file for bankruptcy which fluctuate state by state and it’s also imperative to to be familiar with those procedures before continue with submitting. As an example, should you be considering filing for bankruptcy in Oklahoma, you are going to need to know whether you qualify for Chapter 7 or Chapter 13 bankruptcy. It could be best if you contact an knowledgeable Oklahoma bankruptcy lawyer to direct you through the means of filing for bankruptcy.

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