Alabama: home of the Debt-ridden

map of Alabama and surrounding statesLiving in the South means that you were more likely to file bankruptcy in 2012. Statistics lately compiled by the folks at BestCase Bankruptcy found that three of the top five states with the most bankruptcy filings per capita were in the South. Tennessee had the most bankrputcies per capita, followed by Nevada, Georgia, Alabama, and Utah. So Alabama has a higher rate of consumer bankruptcy filings than 46 states in the country.

Overall, the number of personal bankruptcies fell by 14% from 2011 to 2012, and as the economy slowly recovers, bankruptcies in 2013 are projected to decline nationally by 7%.