The news writers for DebtFreeBankruptcyAttorney.Com are keeping a close eye on the economy and how it will affect those filing bankruptcy. Just ending June 30, 2012 the number of Americans that filed for bankruptcy in the previous year dropped to 1.3 million. This is a reduction of 200,000 from the previous year. As unemployment continues to stay above 8% for the last 40 weeks, the experts at DebtFreeBankruptcyAttorney.Com are predicting this might be the calm before the storm. This year the total US debt including government and consumer has exceeded $55 trillion. This number is frightening considering that only 40 years ago that number was $2 trillion. With debt ratios of Americans continuing to rise in income continuing to decline, there is a cocktail for financial disaster. The people at DebtFreeBankruptcyAttorney.Com believe that people should be informed to stay ahead of the game.
DebtFreeBankruptcyAttorney.Com has also started to monitor foreclosure rates and their effect on the economy. Their intent of staying on top of these industries is to be able to help as many people as possible as these sectors fall apart. Recent bankruptcy attorney reports also show a flat spot for consultations. Some question whether the economy has turned the corner, but most professionals are saying it's the early quiet just as it is before a big storm hits. But the average American having over $16,000 in credit card debt, it's obvious that once the credit markets tighten up again these folks will no longer be able to borrow more and kick the can down the road. When all this happens, watch out as the bankruptcy filing and foreclosure rate will once again ramp up to all-time highs.
DebtFreeBankruptcyAttorney.Com believes that filing bankruptcy should not be a last resort when an individual is faced with debilitating debt. When facing unpayable debt an individual should immediately seek the advice of a bankruptcy attorney before the creditors take legal action. When it comes to financial matters, being proactive can save the debtor a lot of unnecessary stress. DebtFreeBankruptcyAttorney.Com was created using technology to help the debtor make an informed decision by educating them and putting them in touch with a bankruptcy attorney in their area. DebtFreeBankruptcyAttorney.Com has committed themselves to help consumers regain financial freedom and peace of mind for a debt-free future.
Visit http://DebtFreeBankruptcyAttorney.Com to keep up to date on bankruptcy filing changes.