Bankruptcy Filings are Down

February 10, 2012 Betsy Lynch 0 Comments

http://www.uscourts.gov/News/NewsView/12-02-07/Bankruptcy_Filings_Slide_in_Calendar_Year_2011.aspx

The numbers are in! Bankruptcy filings are down for calendar year 2011. This is the first decrease in the number of filings since 2006. Bankruptcy filings were at an all-time high in 2005, prompted by the first big change in the bankruptcy code in decades. Filings fell in 2006 in response to the change but then climbed steadily until 2011. What is ironic is that the news media indicates how bad the economy is, thus prompting many lawyers to feel that the bankruptcy field is a great area of law to break in to during this downturn. Now with the down swing in filings, it will be interesting to see how many lawyers want to get out of this field now that there will be fewer cases to file per attorney…
For more bankruptcy information, please contact Betsy Lynch, your Kansas City Bankruptcy Lawyer, at 816.434.6616 or www.abankruptcyfirm.com.

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