THE number of American citizens and businesses submitting bankruptcy claims rose rapidly by 32% last year.

More than 1.4 million filings for bankruptcy have been submitted, more than in any other year since Congress revised the bankruptcy laws in 2005. In Arizona, the number of bankruptcies increased suddenly by 77% and in California, Wyoming, and Nevada, by more than 50%.

Although each state registered an increase in bankruptcies, Alaska (12%), Nebraska (12%) and North Dakota (14%) have had the best results.

Source: Granma International