Bankruptcy: You are not Alone

One thing that I’ve noticed in my Atlanta-based bankruptcy practice is that clients filing for consumer bankruptcy protection under Chapter 7 and Chapter 13 often feel alone and isolated. Recent statistics indicate that this couldn’t be farther from the truth!

Who is filing bankruptcy?

During the past fiscal year, ending June 30, 2010, Americans filed over 1.5 MILLION bankruptcy cases. That’s right, 1.5 million−that’s somebody filing every 15 seconds.

Experts classified 2009 as a high year for bankruptcy filings and 2010 shows a 20% increase over 2009. In some states, the rate of increase was as high as 52%! We all know why these numbers are so high: bad economy, migration of manufacturing and service jobs, an unemployment rate of around 10%, foreclosures, aggressive collection tactics for medical and credit card debt.

If you find yourself in one of these circumstances, know that you are not alone and there is help. Please consult a qualified bankruptcy attorney. For a free consultation please contact the Law Offices of Charles Clapp at (404) 585-0040 or email for more information.