Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Bankruptcy Filings Soar As Economy Suffers

I just posted an article in our news section titled "Bankruptcy Filings Hit An All-Time High" which reports that recent statistics published by Aacer, a reporting firm who gets their numbers from the court electronic filing system, estimates that the number of bankruptcy filings in 2008 could easily top the 1,000,000 mark.  This will be the first time since the passage of the new bankruptcy law in 2005 that such levels have been seen.

With the weak economy and people that are extremely over-extended, I am not suprised that the bankruptcy filing numbers have climbed to these new heights.  This trend could be seen back into mid-2007 as the general consumer figured out through good information sources that you could still file for bankruptcy protection and, if you did, you likely would not lose any of your property.

That is why I have written the consumer guide on the bankruptcy process so that the average, hard working family can get the information they need to make an informed decision.  My guide, "7 Critical Mistakes To Avoid The Dismissal Of Your Bankruptcy Case" is yours FREE by clicking on the title or calling toll free 1-866-570-8484.

St. Louis, Missouri bankruptcy attorney and Illinois bankruptcy lawyer James Brown of Castle Law Group has spent more than 14 years helping families file for chapter 7 bankruptcy and chapter 13 bankruptcy to stop the foreclosure of their home, repossession of their car and garnishment of wages.