Tennessee bankruptcy rate leads nation

CHATTANOOGA, Tenn. (AP) -- Tennessee continues to have the highest bankruptcy rate in the nation and experts are predicting even more filings next year because of the slowing economy.

According to a report released last week by the Federal Deposit Insurance Corp., the rate of personal bankruptcy filings in Tennessee during the first quarter of 2008 was more than double the national average.

Neighboring Georgia and Alabama ranked second and third, respectively.

The National Bankruptcy Research Center estimates that one of every 56 households will file for bankruptcy relief this year in Tennessee.

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(Copyright 2008 by The Associated Press. All Rights Reserved.)


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