Bankruptcies erupt again

Bankruptcies erupt again

Oregon bankruptcies kept growing in 2009: up 42% for businesses and 45% for individuals. Despite passage of stricter rules in 2005, last year’s filings skyrocketed 164% compared to three years ago, no doubt related to real estate and unemployment woes. Oregon and Washington rank 22nd and 23rd worst per capita for bankruptcies. By contrast, Nevada, California and Idaho rank first, 11th and 18th. More severe chapter 7 liquidations account for 78% of Oregon’s 2009 filings compared to 72% nationwide.

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