Some areas of the country are experiencing sharp drops in bankruptcy filings, including South-Central Texas.
According to a bankruptcy court’s findings, this area of the country had an 18 percent decrease in the previous month when compared to the same period last year. In August 2010, there were 440 bankruptcy filings; this year, the number fell down to 360 filings. After reviewing the data for this year, the court found that personal bankruptcy filings had decreased significantly, for both liquidations and reorganizations.
Both Chapter 13 and Chapter 7 bankruptcy filings dropped last month, 14 percent and 20 percent respectively. While these numbers are encouraging, financial experts warn that this could be a short-lived trend, as the economy has yet to fully recover from the recession.
When you are contemplating bankruptcy, there is no time to waste in speaking with a San Antonio bankruptcy attorney who can offer you help. Contact the Malaise Law Firm now to receive an initial consultation.