According to the American Bankruptcy Institute, there was a 9 percent increase in personal bankruptcy filings between 2009 and 2010. An estimated 1.53 million households filed for bankruptcy in 2010.
While the economy has started to show hints of improvement, many American households are still struggling with financial trouble caused by the economic recession. High credit card debt, unemployment, and high mortgage payments have all contributed to the increase in filings.
Bankruptcy can help individuals and businesses resolve outstanding debts so that they can receive a fresh financial start.
If you or someone you know is struggling with overwhelming debts, bankruptcy may be the ideal option for you. To consult with a compassionate, experienced Birmingham bankruptcy attorney, contact Greenway Bankruptcy Law, LLC, today by calling (205) 324-4000.