The Great Recession has caused many people to lose their jobs and face financial hardship. But, recently, the amount of people filing for bankruptcy is going up. 137,698 people have filed for bankruptcy in July this year to help get protection from foreclosure, credit card debt help, and an end to creditor calls. Bankruptcy offers many people a fresh start. If we are told that the recession is over, why are bankruptcy filings not going down?
With numbers like these, it is almost impossible to pin down the exact reason why so many more people are filing for Chapter 7 or Chapter 13 bankruptcy protections. I can only say that my first hand experience at a bankruptcy law firm suggests that most people file for bankruptcy when they are experiencing a financial hardship. A lot of hardworking folks need help paying their bills, protection from foreclosure, and a chance to erase credit card debt. Many times hardship is caused by a painful event like a job loss or medical emergency that leaves families without pay and in a lot of debt.
Find A Bankruptcy Attorney, Types Of Bankruptcy, Mississippi Bankruptcy Lawyer,
I think one reason why the bankruptcy rates have gone up recently is because people are unable to borrow as much money as they used to in the boom years. Before, some folks who couldn't pay their bills would take out another loan, mortgage, or refinance their home to pay off their debts. This wasn't a good idea at the time and now it may be coming back to haunt us.
In the end, we may see some positive effects of this. With banks limiting the amount that they are willing to lend, people are beginning to have a better picture of what their real financial situation is. It isn't possible to get into more debt to avoid a bankruptcy, now you are going to tackle the problem head on--and bankruptcy lets you do that.
Don't you wonder what it would be like to wake up without worrying about creditors calling you all day? Bankruptcy can get you a second chance to provide for your family and it just might be the best choice that you ever make. If you want to file bankruptcy, always look for the best possible bankruptcy attorney to handle your case. While it is possible to file for yourself, the chances of you omitting important exemptions or failing to do the proper paperwork makes your risk significantly higher that your bankruptcy case fails to go through. It's always the best idea to have a lot of information already before you talk to a bankruptcy lawyer!
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Free Bankruptcy Filing
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment