Following national bankruptcy trends, personal bankruptcies filed at the U.S. Bankruptcy Court in Milwaukee decreased in the third quarter.  Still, bankruptcies remain at levels higher than before the economic recession.

In the third quarter of this year, personal bankruptcy filings experienced an 8.9 percent year-over-year decrease.  A total of 4,641 personal bankruptcies were filed in the county in the third quarter.

For the first three quarters of 2011, personal bankruptcy filings were 6.2 percent lower than the number of personal bankruptcies filed in the eastern district of Wisconsin in the same time period last year.

3,451 Chapter 7 bankruptcies and 1,175 Chapter 13 bankruptcies were filed in the U.S. Bankruptcy Court in Milwaukee in the third quarter of this year.

If you or someone you know is considering filing for personal bankruptcy in Milwaukee, contact the Milwaukee personal bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 to learn more today.

According to the National Bankruptcy Research Center and American Bankruptcy Institute, personal bankruptcies decreased by 17 percent in the U.S. in September.  Last month, 108,517 personal bankruptcies were filed across the country.

From January through September of this year, personal bankruptcies are 10 percent lower than in the same time period in 2010.  In addition, September’s filings were 4 percent lower than the number of personal bankruptcies filed in August of this year.

30 percent of last month’s personal bankruptcy filings were Chapter 13 filings and the rest were Chapter 7 bankruptcy filings.

ABI executive director Samuel Gerdano stated, “Total consumer filings for 2011 will be less than 2010.”

If you or someone you know would like to consult with an experienced bankruptcy attorney before filing for personal bankruptcy, contact the Milwaukee personal bankruptcy lawyers of DeLadurantey Law Office, LLC by calling 44-377-0518 today.

Several recent studies into the bankruptcy filings in the U.S. show that the number of seniors filing for bankruptcy is increasing.

From 8 years ago, the percentage of seniors that file for bankruptcy increased by approximately 3.5 percent, according to a study conducted at the University of Michigan Law School.

Another study found that the demographic of people 65-years old and older made up 8.3 percent of the total number of bankruptcies filed in the U.S. in 2009.  In 2006, only 7.8 percent of all bankruptcies filed were filed by people 65-years old and older.

“While health issues and medical debts are also contributing to bankruptcy filings by the elderly, credit card debt among the elderly has also risen, with a median of $22,562 being owed to credit card companies among filers 65 years and older,” states a study conducted in Boston.

To discuss the benefits of filing for personal bankruptcy in Milwaukee, contact the Milwaukee personal bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 today.

The month of September saw a 2.6 percent increase from August in the nation’s total number of personal bankruptcies filed.  Common types of personal bankruptcy are Chapter 7 and Chapter 13.

According to the American Bankruptcy Institute, 130,329 personal bankruptcies were filed in September.  With September’s filings the total number of bankruptcies filed this year reaches almost 1.2 million.  Currently, this year’s number of total filings is 11.3 percent higher than the total this time last year.  Experts estimate there will be 1.6 million bankruptcies filed by the end of the year.

Executive Director of the institute, Samuel J. Gerdano, states, “Families are very vulnerable…We expect, certainly through the balance of this year that bankruptcy will continue to be viewed as a possible solution for people who are having trouble meeting their obligations month to month”.

If you or someone you know is considering filing for personal bankruptcy, contact the Milwaukee personal bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about your rights.