Bankruptcy Statistics for Alabama
Over the past few years, many in Alabama have been dealing with some of the worst economic conditions in their lifetimes. In fact, each financial quarter has shown that bankruptcy is becoming increasingly prevalent in the state. While there have been some signs of improvement, especially in stabilizing job markets, the number of bankruptcies filed in Alabama may continue to be high in the coming years.
Contact the Birmingham bankruptcy lawyers of Greenway Law, LLC, at 205-324-4000 today for more information regarding your bankruptcy options.
Increasing Bankruptcy Filings
In the first quarter of 2006, before the economic collapse had begun, 3,687 people filed for bankruptcy in Alabama. Since this time, the bankruptcy rate has more than doubled in the state, at times almost tripling. Since 2006, quarterly figures illustrate a steady rise in bankruptcy filings, reaching a peak in 2009:
- 3,687 bankruptcies in Q1 2006
- 5,678 bankruptcies in Q1 2007
- 6,339 bankruptcies in Q1 2008
- 8,606 bankruptcies in Q1 2009
- 8,535 bankruptcies in Q1 2010
Over the past few years, many people have found the financial relief that they need by filing for bankruptcy. For those with overwhelming levels of debt, bankruptcy offers a way to start over financially. If you are struggling with your finances and have seemingly insurmountable levels of debt, there are options available to you.
Contact Us
To learn more about how bankruptcy can assist you in your time of need, contact the Birmingham bankruptcy attorneys of Greenway Law, LLC, by calling 205-324-4000 today.