The numbers of bankruptcies has fallen over the past year, but there are still a lot of them being filed. About 1 million bankruptcies are being filed in the U.S. per year, currently, says the American Bankruptcy Institute,
According to longtime ABI Executive Director Samuel J. Gerdano: “Today's figures confirm a new normal of reduced bankruptcies, as consumers and businesses continue to deleverage in a sustained low-interest-rate environment. We expect the trend to continue through the end of 2013.”
However, our law firm is seeing an uptick in consumers needing to file bankruptcy because of overly aggressive creditors and debt collectors including payday loan creditors, title loans threateing repossession and both federal and private student loan collectors. If you are experiencing overwhelming debt trouble, call our office or request one of our publications.