Massachusetts Bankruptcy News: 13% Consider Bankruptcy
According to a recent survey by Findlaw.com, 13% of all Americans have considered filing personal bankruptcy. The survey found that folks between 35 and 55 are more likely to consider bankruptcy than the 18-34 year old crowd. Only 7% of those over 65 have considered filing for bankruptcy protection. The survey, published May 19, 2011 by Findlaw points out that approximately 1.5 million have filed for bankruptcy in the past year.
When considering filing for bankruptcy in Massachusetts, we highly recommend you contact a qualified bankruptcy lawyer. Only someone with experience in the federal bankruptcy courts should be considered because the new 2005 law is more restrictive than the old law, the Petition and Schedules are complicated, the Unites States Trustees follow strict rules, and the whole process can be difficult. With an experienced bankruptcy lawyer, however, you can plan for the bankruptcy, the process can be significantly easier, and you will have someone to guide you every step of the way.