You may have heard from various news sources that the state of California is going through some major financial issues. Of course, these issues are directly related to the residents of the state. According to data released by the American Bankruptcy Institute and the National Bankruptcy Research Center, California bankruptcy filings made up approximately 17% of the total number of filings in United States in 2010. In fact, the number of filings in California is up a staggering 25% from 2009! So is the state of California actually going bankrupt? The following info-graphic displays the research.
