05 Apr 2010 12:57 pm
Currently, American bankruptcy courts which are supposed to offer debt relief & debt solutions have not done much to help the millions of people flooded under insurmountable debt. About 5% of mortgage loans are now in foreclosure, that is a gain of 85% since the first quarter of 2008; On top of that more than 10% of credit card accounts are delinquent with few clear debt solutions available. Despite the above figures, bankruptcy filings so far this year (2010) are only 1 and 1/2 times what they were in 2008. Despite the increase in bankruptcy fillings they are considerably below the level of the first half of this decade.
The problem is that our bankruptcy system is too difficult and expensive for the people who use it. In 2005 Congress made things much more complicated than they already where by making it harder for people seeking to file bankruptcy to avoid paying their outstanding bills.
If you are experiencing financial difficulties, being harassed by creditors, have credit card debt, unpaid medical bills, repossession (s), pending lawsuits, judgments or are past due on your mortgage or rent payments, then a Chapter 7 or a Chapter 13 filings may be of great benefit to you.
Take the first step towards your new life!
Give us a call today.
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- THE PERILS OF BANKRUPTCY AVOIDANCE
- New Jersey Bankruptcy Lawyer in Essex County
- New Jersey Bankruptcy Attorney in Bergen County.
- Comprehensive Morris County, New Jersey Business Law Practice
- New Jersey Bankruptcy Attorney in Somerset County
