Bankruptcy Filings Slowing
The Associated Press reported bankruptcy filings slowed down in 2010. December 2010 showed a 3% decrease in filings from December 2009.
There was an overall 10% increase in filings from a year ago but the rate had been growing between 25-35% each year for the last several years.
There is not much indication as to whether there has been a bigger decrease in Ch. 7 filings as opposed to Ch. 13 filings. With foreclosure filings continuing to rise, it is much more likely more 7s are being filed than 13s. But is the drop in bankruptcy filings a sign that the economy is strengthening? Only time will tell.
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AP: Surge in bankruptcies shows signs of slowing.
If you have questions about Florida Foreclosures or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
