Consumer bankruptcy filings have not been curbed despite the recent economic upturn. Chapter 7 bankruptcy filings were up 14% in February of 2010 compared to February of 2009. This number was also an increase of 9% from the number of filings in January, indicating an uncomfortable trend.

According to Samuel Gerdano, American Bankruptcy Institute executive director, this is the result of years of overspending and increased debt-stress catching up with individual customers.

Stricter bankruptcy laws implemented in 2005 were meant to decrease the number of Chapter 7 bankruptcy filings by requiring those with a regular income to repay their debt in full or in part over a period of several years under Chapter 13 bankruptcy. Instead, Chapter 13 bankruptcy filings have decreased by 3% from the number of filings this time last year.

If you are suffering financial difficulties and need consultation in regards to filing for Chapter 13 or Chapter 7 bankruptcy, contact contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518 to discuss your options.