Why Bankruptcies Increase While Unemployment Rate Improves, Tacoma Bankruptcy Lawyer

Tacoma bankruptcy attorney Dave Yando explains why the unemployment rate in Seattle and Washington state and the U.S. is decreasing, but bankruptcies continue to mount, which is not the best economic scenario.
By: Dave Yando, Tacoma Bankruptycy Attorney
 
 
Tacoma Bankruptcy Lawyer Dave Yando
Tacoma Bankruptcy Lawyer Dave Yando
March 7, 2011 - PRLog -- The U.S. unemployment rate has dropped to 8.9 percent, and Washington state’s rate has decreased to 9 percent, which is good news for Seattle-Tacoma consumers. But bankruptcies continue to top the headlines –  the high number of bankruptcy filings is reflective of the stalled economy, according to Tacoma bankruptcy attorney Dave Yando.

“There is considerable hope and talk about an improving economy. Certainly, let’s hope it gets better,” says Tacoma bankruptcy attorney Dave Yando who provides proven debt solutions from his law office (http://yandolaw.com).  

“Unfortunately, consumer bankruptcy filings jumped another 11 percent in Feb. 2011 over the previous month, according to the expert National Bankruptcy Research Center and the American Bankruptcy Institute,” says Tacoma bankruptcy lawyer Dave Yando.

“That’s right; another 102,686 American consumers filed bankruptcy in Feb. of this year,” Mr. Yando acknowledges, who has 30 years experience in home foreclosure defense, and bankruptcy, real estate and taxation law.

“A still declining housing market and high unemployment are forcing individuals to seek bankruptcy relief,” explains Mr. Yando, the Tacoma debt-relief attorney.

“In 2010, there were more than 1.6 million American bankruptcy filings – the highest level since 2005,” writes the Tacoma bankruptcy lawyer.

Mr. Yando says foreclosure of mortgages is a major headache in finance for homeowners throughout Seattle and Tacoma, King County, and Pierce County in Washington state.

Mr. Yando provides a free initial consultation, and he explains how you can file bankruptcy and keep your home at his informative Web site: http://www.yandolaw.com/archives/270.

“Though consumers are striving to reduce their debt burden, high unemployment and a still-poor housing sector continue to fuel new bankruptcies,” said Samuel J. Gerdano, the American Bankruptcy Institute’s executive director in a Wall Street Journal economics blog by Sara Murray.

Mr. Yando says many people have asked him how to rebuild their credit after filing bankruptcy, which he also explains: http://www.yandolaw.com/rebuilding-creditcredit-concerns.

Recent headlines indicate the U.S. unemployment rate has dropped to 8.9 percent as 192,000 jobs were added in Feb.

“However, other published reports indicate a leading outplacement firm states there were another 50,702 in job cuts in Feb.” asserts Mr. Yando. “That’s the worst job-cut number in 12 months.”

Mr. Yando cites a study by Challenger, Gray & Christmas. It said the escalation represented a 32 percent increase in job cuts over Jan. of this year. That’s also an increase of 20 percent from Feb. 2010.

The three reasons cited for all the job cuts: Bankruptcies, business closings and cost-cutting.

“Now, we have higher gas prices, which could affect employment rolls and the ever-increasing bankruptcy rate,” says Mr. Yando.

His conclusion: “Continued high bankruptcy filings are reflective of the stalled economy.”

But for financially strapped businesses and consumers, Mr. Yando's Proven Debt Solutions provide the missing piece of the debt puzzle.

Watch the five reasons to call Tacoma bankruptcy attorney Dave Yando: http://www.youtube.com/watch?v=3zw2p6KYGcg



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Tacoma bankruptcy attorney David Yando helps businesses and people with debt relief and bankruptcy services. He has more than 30 years of hands on experience in planning and litigating debt relief matters - including foreclosure defense, bankruptcy, real estate and taxation law.
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Source:Dave Yando, Tacoma Bankruptycy Attorney
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Tags:Tacoma, Seattle, Washington, Bankruptcy, Attorney, Lawyer, Foreclosure, Mortgage, Debt, Solutions
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Location:Tacoma - Washington - United States
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