Bankruptcies Increase by 1.9 Percent in South Central Texas

While some financial experts argue that the economy is turning around, homeowners in South-Central Texas would disagree. According to the U.S. Bankruptcy Court for the Western District of Texas, bankruptcy filings have increased 1.9 percent from a year ago.

Just last month alone four businesses in the area filed forChapter 7 bankruptcy and one business filed for Chapter 13 bankruptcy. Among individuals filing for Chapter 7 liquidation there was virtually no change from the month before. However, individuals filing for Chapter 13 reorganization increased seven percent in February. Overall there was a total of 211 Chapter 13 bankruptcies in February of this year.

Are your finances in such a state of disarray that you aren't sure what to do anymore? If so, you need to contact a San Antonio bankruptcy attorney now to learn more about your legal options. You can get back on your feet financially by filing for bankruptcy, but only if you know which type to file for and how to move forward.