2013 CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Bankruptcy Rate

Reports & Graphics

Definition

Consumer (non-business) bankruptcy filing rate per 1,000 people, 2011. Bankruptcy is the legal status of an individual who cannot repay the debts owed to creditors.

Description

Bankruptcy which results when a household’s expenses far exceed its income, often due to catastrophic illness, loss of a job, death or divorce. While many Scorecard measures focus on households with little or no wealth, the bankruptcy rate describes the plight of those who were once financially secure until their debt became too overwhelming to manage.

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Bankruptcy Rate

StateBankruptcy Rate
(Per 1,000 People)
Rank
United States  4.4   
Alabama  6.2  46 
Alaska  1.3 
Arizona  5.4  40 
Arkansas  4.8  37 
California  6.2  45 
Colorado  5.7  43 
Connecticut  2.6  17 
Delaware  3.9  26 
District of Columbia  1.5 
Florida  4.8  36 
Georgia  7.3  49 
Hawaii  2.3 
Idaho  4.6  35 
Illinois  5.5  41 
Indiana  5.9  44 
Iowa  2.5  14 
Kansas  3.4  22 
Kentucky  5.0  38 
Louisiana  3.7  25 
Maine  2.6  16 
Maryland  4.3  29 
Massachusetts  3.0  19 
Michigan  5.7  42 
Minnesota  3.5  24 
Mississippi  4.5  31 
Missouri  7.8  50 
Montana  2.5  13 
Nebraska  3.5  23 
Nevada  8.6  51 
New Hampshire  3.4  21 
New Jersey  4.2  28 
New Mexico  2.6  18 
New York  2.4  11 
North Carolina  2.3 
North Dakota  1.8 
Ohio  5.0  39 
Oklahoma  3.4  20 
Oregon  4.4  30 
Pennsylvania  2.5  15 
Rhode Island  4.6  33 
South Carolina  1.6 
South Dakota  2.2 
Tennessee  7.2  48 
Texas  1.9 
Utah  6.3  47 
Vermont  1.7 
Virginia  4.0  27 
Washington  4.5  32 
West Virginia  2.5  12 
Wisconsin  4.6  34 
Wyoming  2.3  10 

Source

“Annual Business and Non-business Filings by State (2007-11).” Alexandria, VA: American Bankruptcy Institute.

2011 American Community Survey. Washington, DC: U.S. Department of Commerce, Census Bureau, 2012.

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