Rising bankruptcy filings

The number of bankruptcy filings continues to rise.  The surge is primarily because of job losses, and the fact that people are flat out not able to keep up with their mortgage payments.

The primary purpose of the amendments to the bankruptcy code back in 2005 was to try to push people into a Chapter 13 bankruptcy rather than a Chapter 7 bankruptcy by virtue of the Means Test.  Once we fell into the “Great Recession,” the Means Test no longer stood in the way of most debtors because many households experienced a reduction in income, or one spouse lost their job.

Many are anticipating that the number of bankruptcies filed will continue to rise in 2011 and 2012 due to the terrible state of the economy.

Contact Our Texas Bankruptcy Law Firm For Help Today

If you’re facing bankruptcy in Texas, we’re here to help. Contact the experienced bankruptcy lawyers at Pelley Law Office, L.L.P., today to schedule a free consultation.

We proudly serve Plano, Dallas, Sherman, and the surrounding areas.

Pelley Law Office L.L.P. – Plano Office
Address: 1312 14th St, Plano, TX 75074
Phone: (972) 608-0335
Hours: 24/7

Our firm is located near you. Find us with our GeoCoordinates: 33.0180322,-96.6952916,863

Pelley Law Office L.L.P. – Sherman Office

Address: 905 N Travis St, Sherman, TX 75090
Phone: (903) 813-4778
Hours: 24/7

Our firm is located near you. Find us with our GeoCoordinates: 33.6445846,-96.6113141,857