Skip to main content
(678) 915-2634 Contact Us
Bankruptcy Filings Expected to Slow in 2011 Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Bankruptcy Filings Expected to Slow in 2011

judge gavel on a pile of banknotes

Although 2010 saw a continuation of the years-long increase in the number of both business and consumer bankruptcy filings, experts and analysts are encouraged by one small indicator of progress. The growth in bankruptcy filings that has persisted over the past several years slowed significantly in the past year, with multiple months showing a drop in bankruptcies over the previous year for the first time in four years.

In sum, there were 1.55 million bankruptcy filings in 2010, which is an increase of approximately eight percent from the 2009 filing rate. Although any increase is certainly not good news, there is a silver lining: that eight percent is a significant drop from the increase of 32 percent from 2008 to 2009, and the increase of 33 percent from 2007 to 2009. Economists predict that this slowdown will continue in 2011 as the economy improves, slowly but steadily.

In addition, two months actually saw a decrease in bankruptcy filing rates. December’s approximately 113,000 bankruptcies was a three percent drop from the same month in 2009, and October filings saw a similar decline. These months marked the first time in four years that an individual month saw a drop in bankruptcy filings, which is a promising step.

According to law professor Katie Porter, the continuing increase in bankruptcy filings is something to be expected. “That is kind of the ‘natural’ level of filings in the kind of the economy we have. We have a lot of debt and a lot of volatility,” she said. “When you combine those things together, the debt makes it hard for people to withstand a debt [such as a job loss or medical emergency] to the system.”

Source: Atlanta Journal-Constitution, “AP: Surge in bankruptcies shows signs of slowing”, Mike Baker, 4 January 2011

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634

Email:

First Free
Appointment




    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review