Debtors File For Bankruptcy In Record Numbers

Chapter 7 and
Chapter 13 filings have shot up
18% in Texas according to El Paso Times. But it’s not just Texas, all
over the country many ordinary citizens are finding themselves too financially
strapped to pay for the basics of life in addition to all of the debt
they have accumulated in the past 10 years of financial prosperity.

Nationwide nearly 1 million Americans have filed for bankruptcy in 2008
according to the Administrative Office of US Courts. Many of the new bankruptcy
filers are individuals who own multiple homes they acquired loans for
with no proof of income. These people are finding that they can no longer
flip the homes nor can they afford the mortgages, which are often ARMs
scheduled to reset soon. For them bankruptcy is the only solution.

If you have found that you and your family are in a similar situation,
contact our Dallas bankruptcy law firm today and discuss the specifics
of your case and the options available to you during a free, initial consultation.
At Allmand Law Firm, PLLC, we are well-equipped to help assist you with
your bankruptcy needs. Call (214) 884-4020 today!

By | 2017-12-13T02:37:39+00:00 September 22nd, 2008|Bankruptcy, Chapter 11 Bankruptcy, Chapter 13 Bankruptcy|Comments Off on Debtors File For Bankruptcy In Record Numbers