Local News

Tar Heels Increasingly File Chapter 7

Posted Updated

RALEIGH — Can't pay off that holiday debt? Watch out. Financial experts say more and more people are filing Chapter 7 in our state. The increase is staggering.

The number of Americans who filed bankruptcy this past year was up just over 3 percent. But, North Carolinians saw an increase of 7 percent.

And the Triangle suffered a major increase in bankruptcies -- a gain of nearly 18.5 percent.

There is some good news, however. Despite the increases, North Carolina's bankruptcy rate is still lower than that of most other states.

 Credits

Kay Miller, Web Editor

Copyright 2022 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.