Agent Jirius: US Bankruptcies just reached a 5 year high

US Bankruptcies just reached a 5 year high

US Bankruptcies just reached a 5 year high

Bellevue WA – According to data from the National Bankruptcy Research Center, US bankruptcies have reached a 5 year high.

The last record was set in 2005. That record was set because bankruptcy laws were being tightened up and people wanted to file before the laws changed.

(The big banks had convinced congress to make it harder for debtors to get relief.)

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The number of bankruptcies filed in 2010 reached 1,530,078. That was an increase of 8.7% over 2009. Even though the economy is starting to show signs of a recovery, people still need relief from debt.

US Bankruptcies just reached a 5 year high

"The [2005] law was supposed to reduce filings, but we are very close to levels we were at then," said Samuel J. Gerdano, Executive Director of the American Bankruptcy Institute. "The laws of economic gravity are more powerful than the laws passed by Congress.

" I can’t agree with him more. Here are a few tips if you are considering bankruptcy.

Tip #1: Sometimes not filing bankruptcy at all is preferred to a Chapter 13 Bankruptcy filing. Let me explain why.

A Chapter 13 is basically a repayment plan. Very few debts are wiped out. In addition, your whole financial life is placed in the hands of a bankruptcy trustee.

They oversee all your finances so you can attempt to repay everyone. Contrast this with a Chapter 7 Bankruptcy where you can erase debts you can’t afford.

Tip #2: When you interview bankruptcy lawyers, ask about their ratio between Chapter 7 filings and Chapter 13 filings. A good bankruptcy lawyer will be able to help you file Chapter 7 and avoid a Chapter 13 bankruptcy. Thinking about a short sale?

US Bankruptcies just reached a 5 year high

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at jirius@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 206-841-9976

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Bellevue loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Jirius Isaac. Jirius is a Real Estate Broker( no agents) at C21 Real Estate Center. Bellevue Short Sales Realtor: Phone:

206-841-9976. jirius@gmail.com.

View My homes for sale at http://kenmorehomesforsale.com/.

Jirius Isaac specializes in loan modification assistance and short sales in Bellevue Washington. Bellevue Loan Modification Help, Bellevue Short Sales. Bellevue Short Sale Realtor , Short Sale Realtor. Bellevue WA Short Sales. Bellevue Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

The views expressed here are Jirius Isaac's personal views and do not reflect the views of C21 Real Estate Center. This information on US Bankruptcies just reached a 5 year high is provided as a courtesy to our viewers to help them make informed decisions.

Isaac Real Estate Team

Champions Real Estate Services

TriStar Finance  #MLO-107799

Office: 425-483-6849 Cell: 206-841-9976

My Blog Site      Local Homes For Sale

Apply 4 a Loan        National Home Deals

Join Me on Twitter  Join Me on Facebook

Winner of Seattle Magazines 5 Star

Real Estate Agent Best in Client Satisfaction Award

 

kenmore homes for sale

Kenmore homes for sale | 

Comment balloon 1 commentJirius Isaac • January 26 2011 09:25PM

Comments

That's the best asewnr by far! Thanks for contributing.
Posted by Matilda over 6 years ago

Participate