Bankruptcy Filing Statistics for 2007-2009

Many different factors can affect one’s financial stability; some of the most significant of these are beyond a person’s own control. Serious illnesses, car accidents, job losses, divorce, and other unforeseen adverse life events can be financially devastating even for those who have carefully saved their money. These effects are more widespread during economic downturns, as a brief glimpse at recent filing statistics shows.

If you are struggling to pay your existing financial obligations according to the terms of the agreements that you have made with your creditors, then a bankruptcy filing may offer the relief that you need. Contact the Birmingham bankruptcy lawyers of Greenway Law, LLC at 205-324-4000 to speak with a skilled and experienced attorney about the potential benefits of seeking bankruptcy protection in your current situation.

An Expected Trend

With the broadly reported economic challenges that have been constant for the past several years, it should come as no surprise that more and more debtors are feeling that bankruptcy offers the best solution to their problems.

According to the United States Bankruptcy Court, for the 12-month period ending March 31, 2008, there were 901,927 new bankruptcy filings, marking a 29.7 % increase over the same length of time one year previously. Then, from 2008 to 2009, the number jumped to 1,202,503 filings, constituting an additional 33.3 % increase.

Contact Us

Let us help you to put an end to overwhelming debt. Contact the Birmingham bankruptcy lawyers of Greenway Law, L.L.C., at 205-324-4000.