High Unemployment Pushing Families to Bankruptcy

February 19th, 2010 · 3:15 pm @ J. Marshall Hughes  -  No Comments

The Nashville Business Journal reported that in a recent survey, attorneys predict a significant rise in bankruptcies this year.” To the question: ‘In your opinion, which one of the following areas of law will experience the most growth in the next three months?’ 32 percent said bankruptcy/foreclosure.”

Many Americans are out of work, but being out of work doesn’t stop the bills from pouring in. The U.S. Unemployment rate is at 10%the highest in over 20 years. News Channel 5 reported bankruptcies are on the increase. Law firms across the country are seeing an increase in bankruptcies and are having to add attorneys just to meet their clients’ needs.

Families are living paycheck to paycheck and struggling just to keep up. This is why more and more people are turning to bankruptcy for a fresh start, and to ease those unforgiving financial burdens.

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