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Bankruptcies fall despite a sluggish economy?
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| Despite one of the worst economies in recent memory, bankruptcy filings nationwide have decreased according to thisarticle in Reuters. Consumer bankruptcy filings nationwide have fell as much as 18 percent in July the seventh year over year decline. According to the article, one of the theories for the lower filings is that there won't be a spike in bankruptcy filings until we see a rise in consumer spending. Typically there is a lag in the filing of
Chapter 7 andChapter 13 bankruptcies until there is a turnaround in both the job market and in consumer spending. However, this
Chicago Bankruptcy Attorney believes that most people wait to file a bankruptcy until either a lawsuit or garnishment or some other trigger forces them to file. In common parlance, I am generally the last person that anyone wants to meet with, except maybe a mortician. Nevertheless, it is advisable to speak with an
experienced Chicago Bankruptcy Attorney before creditors aggressively start pursuing assets. My office offers a free consulation, so if you are not sleeping due to debt I would be more than happy to speak with you. Please call me at 312-489-8182. I want you to lose your debt and not lose your dignity! |
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| Chicago Bankruptcy Attorney |
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