Recession and Bankruptcy

A recent article was written listing statistics about the recession and bankruptcy filings.  It seems that  the outsourcing of many U.S. middle class jobs has led to an uncomfortable separation between the socio-economic classes in our country.

83 percent of all U.S. stocks are in the hands of 1 percent of the people.  61 percent of Americans “always or usually” live paycheck to paycheck.  That is up from 49% in 2008 and 43% in 2007.  A staggering 43% of Americans have less than $10,000 saved up for retirement.  24% of American workers say that they have postponed their planned retirement age in the past year.

Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32% increase over 2008.  A big reason for that was the staggering unemployment rate.  The article noted that the average time needed to find a job has risen to a record 35.2 weeks.

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