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Florida Bankruptcies 3X National Rate in March

Florida continues its downward slide. From the Jacksonville Business Journal:

A staggering increase in consumers and businesses liquidating their assets drove the growth of March bankruptcy filings in Florida’s Middle District to three times more than the national rate.

Bankruptcy filings in Florida’s Middle District, which includes Jacksonville, Orlando and Tampa, were up 33.6 percent in March from February, while nationwide filings increased 9.2 percent.

The district tally for March bankruptcy filings came to nearly 5,500, a 65.1 percent increase from a year ago. Nationwide, filings increased 38 percent from a year earlier, according to Automated Access to Court Electronic Records, a service of Jupiter ESources LLC, based in Oklahoma City.

Bankruptcy filings in the district poured in through March at its fastest pace since 2005, when new bankruptcy laws tightening the criteria went into effect. District-wide bankruptcy filings peaked at 18,800 that October, when the law went into effect, before significantly dropping off.

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Filed under: Florida, Jacksonville, ,

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