WA State Sees 2nd Highest Jump in Bankruptcies 2023-2024

Data from a new study released by a Florida law firm shows WA state had the 2nd highest jump in bankruptcies from 2023 to 2024.

  WA state 2nd highest, OR also in top five

 Injured in Flordia is a leading regional law firm, and their personal injury attorneys conducted the study, utilizing data from US Bankruptcy courts across the nation.

The data showed which states have had the most filings in the last year.

Delaware came in first, with a 61.7 percent increase per every 100,000 of its population. WA State, which came in 2nd, saw that percentage rise 36.5 percent. Coming in third was New Mexico, at 33.6 percent, while Oregon was fourth with an increase of 32.7 percent, again, these are for every 100,000 of population.

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Fifth was Nevada, at 29.1 percent. Rounding out the rest of the top ten were CA, Minnesota, Texas, Maryland and Florida.

An Injured in Florida spokesperson released a statement about the findings, saying in part:

“There are several factors driving the rise in bankruptcy cases across the U.S. These factors include consumer debt, medical expenses, job loss, and the ongoing increase in the cost of living.

“Economic uncertainty, driven by inflation, rising interest rates, and concerns about a potential recession, is putting significant strain on personal finances. Additionally, growing credit card balances and personal loans, when used excessively, can become difficult to fully repay."

They also cited rising costs for food, housing, and healthcare.