More than 7,200 of Maryland’s businesses and consumers have filed for bankruptcy this year, according to the latest data from the American Bankruptcy Institute (ABI), which covers the months of January through July.
Of those businesses and consumers 73% (5,274) filed for Chapter 7 relief (liquidation) and 26% (1,906) filed for Chapter 13 relief (payment reorganization).
Maryland ranks 42nd among states with the greatest year-to-year increase in bankruptcy filings.
States with some of the highest coronavirus positivity rates also had some of the highest increases in year-to-year bankruptcy filings. They include: Texas (11th), Florida (12th) and California (27th).
Click here to read the rest of article written by Bryan Renbaum over at Maryland Reporter
