High numbers of bankruptcy filings can indicate financial problems in a state, but do they also mean higher financial obligations? According to data from Truth in Accounting's State Data Lab, many states with high bills also reported high bankruptcy filings. California reported the highest numbers of each, with $328 billion in total bills and about 187,300 total bankruptcies. Illinois also was in the top three for both categories: $213.79 billion in bills and 69,122 bankruptcies.

Many states in the great plains and rocky mountains regions boasted low numbers in both categories, as well as Vermont and New Hampshire. Lower populations may be part of the reason for these lower rates.

Interested in learning more about your state's finances? Use the State Data Lab's charting tool.