When compared to May of 2010, the filings dropped 26 percent, from 485 in the previous year to 361 in 2011. This figure also represented the lowest amount of filings reported for a month since June of last year. Of these filings, 179 were Chapter 13 bankruptcies, while there were 172 Chapter 7 bankruptcy filings listed for last month.
Business bankruptcy filings, however, were up from last year. There were six businesses who filed for Chapter 7 bankruptcy protection last month; just one filed in May 2010.
Are you in danger of financial ruin and don’t know where to turn? If so, contact us to get help from a San Antonio bankruptcy attorney. You can even use bankruptcy to save your home from foreclosure or having other assets seized.