(205) 259-1909 brent@brentwdavis.com

Right Here in Alabama, the Number of People Filing Bankruptcy Continues to Fall.

     Right here in Alabama, the number of people filing bankruptcy continues to fall.  The trend started in 2010.  It is the same all over America.  However, the number of consumers that have debt in collection has not shown a similar movement.   In  fact, accounts in collection have risen over the same period.  The New York Federal Reserve data shows that the number  is unchanged since 2010.

     The cause may be that the Great Recession of 2008 has prevented consumers from getting credit.   There may be less debt that can be discharged in bankruptcy.  About one-third of all households cannot get mortgages or have been denied credit in the past year.   Budgets are made tighter by heavy student loan debt.  This debt cannot generally be discharged in bankruptcy and with a bad economy and lower wages, the irresistible force is coming nearer to the immovable object and Americans are in between them.

     You do have options to escape or to relive some of that pressure.   Debts that cannot be discharged in Chapter 7 bankruptcy can be managed in Chapter 13 .  Debts can be reduced and restructured to make room in the family budget.   Car loan interest and payments can be drastically reduced.  Unsecured debts, like medical bills or credit cards or payday loans can be stripped of all interest and paid pennies on the dollar.  We offer free consultations.  Please contact us now to start a new tomorrow.  205-989-1919