Re: Bankruptcy Filings Rise

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People won't stop going broke, but they have stopped filing
bankruptcy. Remember also that the new law imposes an 8
year bar on repeat chapter 7 filings. That takes people out
of the pipeline for 8 years. The increased attorney fees
and filing fees, additional paperwork, and credit counseling
requirements, have turned bankruptcy from a fast and easy
practice, to a slow, cumbersome process unaattractive to
debtors.

Some articles for you:

http://www.gazetteextra.com/bankruptcy032706.asp
http://www.rockymountainnews.com/drmn/other_business/article/
0,2777,DRMN_23916_4575404,00.html

Read these thoroughly. Bankruptcy filings are "rising", but
from virtually nothing. The current and projected caseload
for the next twelve months will not support the current
number of bankruptcy attorneys. 2/3 of the bankruptcy
attorneys will go out of business in the next year, in my
view.

On 3/28/06, FordhamGrad wrote:
> Apparently, filings are starting to rise again.
> Miraculously, people have not stopped going broke.