Georgia Still Number Two In Bankruptcies

By: Stephanie Springer Email
By: Stephanie Springer Email

The peach state is ranked number two in the nation for its rate of consumer bankruptcy filings falling behind only Tennessee.

Experts say a variety of forces push Georgia to the top of the bankruptcy charts including the young work force, state laws that are friendly to creditors, and foreclosure rates.

" We see a lot of people affiliated with the construction area..people who used to be contractors or are contractors and not getting the worked that they were and that's partly because the houses aren't selling," said bankruptcy attorney Shelba Sellers.

Experts say Georgia has historically had a large number of bankruptcy filings relative to other states.

Tennessee and Georgia also led the rankings in 2007.


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