Ala. counties lead nation in number of bankruptcy filings - WSFA.com Montgomery Alabama news.

Ala. counties lead nation in number of bankruptcy filings

MONTGOMERY, AL (WSFA) - An analysis by a Columbia Law School professor shows bankruptcy filings rose slightly nationally in December. Professor Ronald Mann's research found Memphis and Las Vegas to be pacesetters, but Alabama had several counties at the top of the list.

The figures, compiled for the National Bankruptcy Research Center, found the national filing rate increased from 493 to 508 per million adults.

The nation's highest filing rate for a county was in Baldwin County, Alabama, home to such resort towns as Gulf Shores and Orange Beach, which were hard hit by last year's Gulf oil spill. It recorded 3,876 bankruptcy filings per million adults in December, more than seven times the national average.

The second highest rate was found in Greene County, Ala., where the poverty rate of 30 percent is nearly double the state's average; followed by Henry County, Ga., Shelby County and Teton County, Idaho.

For urban counties with 100,000 or more residents, Shelby County, Tenn., which includes Memphis, led the nation with 1,738 filings per million adults in December, followed by Clark County, which includes Las Vegas, with 1,271.

"Memphis has had some of the highest filings at the county level for much of the last year," Mann said. "This is particularly interesting, because as a state, Tennessee has a relatively low filing level."

Rounding out the top five for urban areas were Riverside, San Bernardino, and Solano counties in California.

On the positive side of the ledger, the counties that include New York City, Greenville, S.C., McAllen, Tex., West Chester, Penn., and Worcester, Mass., had the lowest filing rates for urban areas, averaging just 163 filings per million adults in December.

"These were areas where there was relatively little of the bubble-era real-estate lending," Mann said. "New York is unusual because, despite its close ties to the financial industry, it has relatively few mortgage loans and an unusually high number of renters." 

INFORMATION SOURCE: Columbia University

  • Trending StoriesTrending StoriesMore>>

  • Police: Man found in cemetery with 5 girls, 2 unconscious

    Police: Man found in cemetery with 5 girls, 2 unconscious

    Sunday, June 17 2018 9:56 AM EDT2018-06-17 13:56:56 GMT
    Jordan McClain, 20, is accused of picking up five underage girls from a foster care home in Mobile and giving them pills and marijuana. (Source: Ocean Springs Police Dept)Jordan McClain, 20, is accused of picking up five underage girls from a foster care home in Mobile and giving them pills and marijuana. (Source: Ocean Springs Police Dept)

    A 20-year-old man is facing felony charges after police say he drove to Alabama and picked up five underage girls in foster care.

    More >>

    A 20-year-old man is facing felony charges after police say he drove to Alabama and picked up five underage girls in foster care.

    More >>
  • Police find woman's body in freezer after husband takes own life

    Police find woman's body in freezer after husband takes own life

    Monday, June 18 2018 8:04 AM EDT2018-06-18 12:04:32 GMT
    Monday, June 18 2018 8:18 AM EDT2018-06-18 12:18:10 GMT
    Police were trying to inform Lori Bruick that her husband took his own life but were having trouble finding her until they went into the family home. (Source: Raycom Media)Police were trying to inform Lori Bruick that her husband took his own life but were having trouble finding her until they went into the family home. (Source: Raycom Media)

    Police were trying to tell Lori Bruick that her husband took his own life but were having trouble finding her - until they went into the family home. 

    More >>

    Police were trying to tell Lori Bruick that her husband took his own life but were having trouble finding her - until they went into the family home. 

    More >>
  • Boy knocks over $132K statue; parents told to pay up

    Boy knocks over $132K statue; parents told to pay up

    Sunday, June 17 2018 1:05 AM EDT2018-06-17 05:05:50 GMT
    Sunday, June 17 2018 1:05 AM EDT2018-06-17 05:05:50 GMT
    An insurance company claims the parents were negligent for not monitoring their children. (Source: City of Overland Park/KSHB/CNN)An insurance company claims the parents were negligent for not monitoring their children. (Source: City of Overland Park/KSHB/CNN)

    An insurance company claims the parents were negligent for not monitoring their children.

    More >>

    An insurance company claims the parents were negligent for not monitoring their children.

    More >>
  • NewsMore>>

  • AT&T, Time Warner close $81B merger 2 days after judge OKs

    AT&T, Time Warner close $81B merger 2 days after judge OKs

    Thursday, June 14 2018 9:38 PM EDT2018-06-15 01:38:05 GMT
    Monday, June 18 2018 9:13 AM EDT2018-06-18 13:13:27 GMT
    (AP Photo/Richard Drew, File). FILE - In this Wednesday, June 13, 2018, file photo, the logos for Time Warner and AT&T appear above alternate trading posts on the floor of the New York Stock Exchange. A federal judge has approved the $85 billion me...(AP Photo/Richard Drew, File). FILE - In this Wednesday, June 13, 2018, file photo, the logos for Time Warner and AT&T appear above alternate trading posts on the floor of the New York Stock Exchange. A federal judge has approved the $85 billion me...

    AT&T and Time Warner have completed their merger, one of the biggest media deals ever, just two days after a federal judge approved the combination over objections by the Trump Justice Department that it would hurt...

    More >>

    AT&T and Time Warner have completed their merger, one of the biggest media deals ever, just two days after a federal judge approved the combination over objections by the Trump Justice Department that it would hurt consumers.

    More >>
  • Compulsive video-game playing could be mental health problem

    Compulsive video-game playing could be mental health problem

    Monday, June 18 2018 5:20 AM EDT2018-06-18 09:20:00 GMT
    Monday, June 18 2018 9:13 AM EDT2018-06-18 13:13:13 GMT
    In its latest revision to an international disease classification manual, the U.N. health agency said Monday that classifying "Gaming Disorder" as a separate condition will 'serve a public health purpose for countries.' (Source: Pixabay)In its latest revision to an international disease classification manual, the U.N. health agency said Monday that classifying "Gaming Disorder" as a separate condition will 'serve a public health purpose for countries.' (Source: Pixabay)

    The World Health Organization says that compulsively playing video games now qualifies as a new mental health condition, in a move that some critics warn may risk stigmatizing its young players.

    More >>

    The World Health Organization says that compulsively playing video games now qualifies as a new mental health condition, in a move that some critics warn may risk stigmatizing its young players.

    More >>
  • Strong quake near Osaka, Japan, kills 3, knocks over walls

    Strong quake near Osaka, Japan, kills 3, knocks over walls

    Sunday, June 17 2018 9:29 PM EDT2018-06-18 01:29:52 GMT
    Monday, June 18 2018 9:12 AM EDT2018-06-18 13:12:59 GMT
    (Takaki Yajima/Kyodo News via AP). School children take shelter at schoolyard in Ikeda, Osaka, following an earthquake Monday, June 18, 2018.  A strong earthquake has shaken the city of Osaka in western Japan. There are reports of scattered damage incl...(Takaki Yajima/Kyodo News via AP). School children take shelter at schoolyard in Ikeda, Osaka, following an earthquake Monday, June 18, 2018. A strong earthquake has shaken the city of Osaka in western Japan. There are reports of scattered damage incl...

    A strong earthquake shook the city of Osaka in western Japan, causing scattered damage including broken glass and partial building collapses.

    More >>

    A strong earthquake shook the city of Osaka in western Japan, causing scattered damage including broken glass and partial building collapses.

    More >>
Powered by Frankly