Volume 10 • Quarter 4, 2000 / Quarter 1, 2001

Regional Review

Issues in Economics - Bankruptcy Rates by Region Issues in Economics - Bankruptcy Rates by Region

 


BANKRUPTCY RATES BY REGION
vary greatly. New England has a relatively high ratio of debt to income, but a low rate of credit card debt and bankruptcy
 
HOUSE-
HOLD
INCOME
NET
WORTH
CREDIT
CARD
DEBT
CREDIT
CARD
DEBT/
INCOME
TOTAL
DEBT
TOTAL
DEBT/
INCOME
DELIN-
QUENCY
*
BANK-
RUPTCY
**
New England
$61,018
$349,661
$1,407
2.3
$55,664
91.2
2.9
4.3
Middle Atlantic
59,384
315,781
1,518
2.6
46,499
78.3
7.0
5.6
South Atlantic
51,386
297,973
1,706
3.3
49,428
96.2
5.7
7.49
East South Central
40,686
189,344
1,499
3.7
28,224
69.4
7.5
13.2
West South Central
48,203
225,484
2,099
4.4
36,917
76.6
8.2
7.8
East North Central
52,296
287,838
1,506
2.9
45,044
86.1
3.9
8.8
West North Central
41,959
206,317
1,830
4.4
35,457
84.5
2.2
12.4
Mountain
45,988
212,832
1,845
4.0
39,090
85.0
8.8
13.3
Pacific
60,814
389,435
2,129
3.5
75,082
123.5
6.8
7.6

 

Source: 1998 Survey of Consumer Finances

New England: CT, ME, MA, NH, RI, VT; Middle Atlantic: NJ, NY, PA; South Atlantic: DE, DC, FL, GA, MD, NC, SC, VA, WV; East South Central: AL, KY, MS, TN; West South Central: AR, LA, OK, TX; East North Central: IL, IN, MI, OH, WI; West North Central: IA, KS, MN, MO, NE, ND, SD; Mountain: AZ, CO, ID, MT, NV, UT, WY, NM; Pacific: AK, CA, HI, OR, WA

*Percent of consumers who were behind on payments by two months or more

**Percent of consumers who ever filed for bankruptcy in the past  
 
 
 
 
 
 
 
 

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