Bankruptcies rose sharply in Washington last year, although North Central Washington fared better than many larger counties.
More than 19,000 bankruptcy cases were filed in 2008 in Washington, 40 percent more than a year ago. Experts say the pace will stay brisk in 2009.
In North Central Washington for all of 2008, there were 187 household and business bankruptcy filings in Chelan County, up 13 from 2007; 126 filings in Douglas County, up 40 from 2007; 299 filings in Grant County, up 59 from 2007; and 79 filings in Okanogan County, up 20 from 2007.
Looking at a single month — January 2009 — Washington ranked second among the states, behind New Jersey, in the rate of growth in bankruptcy filings from December 2008 to January 2009, according to AACER, an Oklahoma City-based bankruptcy data and management firm.
More than 1,900 households and businesses declared bankruptcy across the state last month, court statistics show. Last month proved rugged for North Central Washington, too, with 63 filings in the four counties, an increase of 20 from January 2008.
Last month, the state also ranked ninth in the average monthly increase in filings and 20th in filings per capita.
Consumer bankruptcies rose sharply in the Seattle and Tacoma areas, where over the past year unemployment rates roughly doubled and housing sales activity plummeted.
King County led the state, with more than 60 percent growth in bankruptcy filings over the previous January, well above the 38 percent average annual growth of the previous 12 months. There were 412 bankruptcy filings in King County last month.
Other urban counties had major annual increases as well: Thurston County recorded 56 filings, a 56 percent jump; Pierce County, 277 filings, up 53 percent; and Snohomish County, 222 filings, up 42 percent.
More businesses are seeking protection from creditors, too.
