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Fewer Americans filed for bankruptcy in 2011 Atlanta, GA

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Fewer Americans filed for bankruptcy in 2011

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These days, it seems that any good news about the economy or how Americans are faring in the wake of the recession always comes with some sort of negative caveat. Well, what we are going to report today is no exception. According to a report from the National Bankruptcy Research Center, fewer Americans filed for Chapter 13 or Chapter 7 bankruptcy in 2011 in comparison to 2010. However, experts expect that decline to be only temporary, and personal bankruptcies to increase once again the coming year.

Last year, about 1.35 million people in Georgia and throughout the U.S. entered Chapter 13 or Chapter 7 bankruptcy, which amounts to about one out of every 175 Americans. This is a decline from 2010, when about 1.5 million people, or one out of every 150 Americans, filed for personal bankruptcy.

In 2011, Chapter 7 liquidation bankruptcy filings fell by about 17 percent from 2010, while Chapter 13 rehabilitation filings dropped by 25 percent.

The drop was the first of its kind since 2006, well before the economic recession. However, economists warn that the positive development will likely be short-lived. Personal bankruptcy filings increased during the months of November and December, and this trend is expected to continue into the new year.

If you are having trouble paying your bills and making ends meet, a Chapter 7 or Chapter 13 bankruptcy filing may be the right next step for you and your family. It may be in your best interest to contact an experienced bankruptcy and debt relief attorney and discuss all of your options.

Source: Los Angeles Times, “Personal bankruptcies fall in 2011 to one out of 175 Americans,” Tiffany Hsu, Jan. 5, 2012

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

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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!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

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.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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