According to this article, home ownership has fallen to 65.1% in April 2010 which is 1.1% lower than it was in 2000. This is the largest drop in home ownership since the Great Depression. The article goes on and talks about the squeeze on the middle class, which no one has to tell me about. There are also a number of vacant homes out there, and the number has grown by 44%. Further, there is a backlog of foreclosures clogging the courts around the nation.

The article really is no news to me as nearly 90% of people polled in a recent survey say the economy stinks. As a Chicago bankruptcy lawyer, I often meet with clients who are significantly underwater on their mortgage, behind on bills, and struggling to make ends meet. In addition, some potential clients are in foreclosure and need to file a Chapter 13 bankruptcy in Chicago. However, a good proportion of them cannot afford their payments, are so far underwater that they will never have any equity, and in some circumstances it just doesn't make sense for a person to keep their property. In that case I advise them on a Chicago Chapter 7 filing to wipe away their debts and get a fresh start.

My office offers a free consultation to anyone who is struggling with their debts. As a Chicago bankruptcy attorney I have helped numerous clients navigate difficult choice of filing a bankruptcy. Waiting usually doesn't help matters in most circumstances and it is better to speak with me now. Please call my office for a free consultation at 312-489-8182 or fill out an inquiry form on my website. I want you to lose your debt and keep your dignity.

Marc Wagman

Attorney at Law