Tennessee Number Two in National Bankruptcy Filings

Despite a nationwide drop in bankruptcy filings, Tennessee ranks number two on a list of bankruptcy filings this year, with the number of persons and businesses filings nearly double the national per capita rate, the Chattanooga Times Free Press reports. The data was compiled by Epiq Systems for the AmericanBankruptcy Institute. The majority of those who seek bankruptcy in Tennessee opt for financial restructuring under Chapter 13, rather than a liquidation under Chapter 7.

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