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Moving Beyond Bankruptcy

Bankruptcy In Washington State: 2013

Laurie Shillito - Thursday, August 28, 2014
Through the end of September 2013, nearly 25,000 residents of the State of Washington filed for one form or another of bankruptcy. That is nearly 1/8th of the population of the city of Tacoma filing for bankruptcy just in this last year. While the numbers may be shocking, what is amazing is looking at the numbers compared to city populations.  Instead of throwing numbers around, we take a look at what the numbers actually mean compared to cities around Washington State.

Through the 9th month of 2013, there were a total of 25,730 total bankruptcy filings for individuals, couples and businesses. That is as if the entire city of Maple Valley in King County filed for bankruptcy at the same time.

Business wise, 781 companies around the State of Washington filed for bankruptcy, which is also nearly the same size as the city of Mossyrock in Lewis County.

Through September of 2013, 24,949 individuals filed for bankruptcy. That is nearly the same amount of people who live on Mercer Island in King County.

Looking at Chapter7 Bankruptcy Filings for 2013 so far, 20,261 cases have been filed. This would be as if the entire polulation of Port Angeles in Clallam County filed for Chapter 7 this past year.

188 filings for Chapter 11 were issued, which is the average maximum occupancy at your favorite chain restaurant.

5,277 filed for Chapter 13 this past year, which is approximately the same as the population of the city of Ocean Shores in Grays Harbor County.

With a state Population that is estimated at around 6,897,000, the total number of people and businesses filing for bankruptcy seems small. However, when you think of the impact that having an entire city file for bankruptcy would have, this is a big deal.

We put these facts and figures out there for you to read so you can see you are not alone. Tens of thousands of people across the state are in the same boat as you. You are not alone and we can help you.

Contact us today if you are thinking about filing for bankruptcy.

For more information on State and County Bankruptcy Numbers: http://www.uscourts.gov/uscourts/Statistics/BankruptcyStatistics/BankruptcyFilings/2013/0913_f5a.pdf
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