Business

2009 was worst year on record

U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted – an increase of 32 percent from 2008.

There were 116,000 recorded bankruptcies in December, up 22 percent from the same month a year before. Arizona saw the fastest increase, a jump of 77 percent from the year before, followed by Wyoming (60 percent), Nevada (59 percent) and California (58 percent).

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