5:08 am January 26, 2011, by Henry Unger
Bankruptcies in metro Atlanta and outlying counties rose significantly in 2010 — yet another sign that the devastating effects of the economic crisis continue to plague many people here, AJC staffer David Markiewicz reports.
Personal filings in the U.S. Bankruptcy Court for the Northern District of Georgia increased 10 percent last year to 54,564, Markiewicz writes. The grim number has risen every year since 2006 when there were only 24,326 filings.
Business filings also increased 10 percent last year to 1,844, Markiewicz reports. Most of the bankruptcies were in the district’s Atlanta division, which covers Cherokee, Clayton, Cobb, DeKalb, Douglas, Fulton, Gwinnett, Henry, Newton and Rockdale counties.
And the worst may not be over.
“We’ve not yet hit the crest in bankruptcy filings,” Jack Williams, a law professor at Georgia State University who specializes in bankruptcy, told Markiewicz. “You can expect these numbers to continue to get worse if we’re still talking about a real estate problem.”
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- Henry Unger, The Biz Beat
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