Bankruptcy filings in NM continue to drop

Bankruptcy filings in New Mexico dipped in 2013, continuing a downward trend that has been going on since 2010. 

The clerk's office for the U.S. Bankruptcy Court in Albuquerque says the state overall had a rate of two bankruptcy filings per capita last year, which falls below the national average of 3.3. 

The data shows Valencia County with the highest rate of the state's 33 counties with a ratio of 2.8 filings. Sandoval and Torrance counties came in second and third, respectively. Bernalillo County, which showed 2.5 filings per capita, hasn't ranked in the top three in the last decade. 

Experts say higher unemployment rates and longer work commutes could be potential factors for the higher rates.

Bankruptcy filings in NM continue to drop