law office of Noel Shillito

Moving Beyond Bankruptcy

Nationwide Bankruptcies Down In 2013

Laurie Shillito - Thursday, August 28, 2014
According to US, bankruptcy statistics are down not only for this past quarter, but for the past 12 months. Comparing data collected over the past 20 months, we can see that nationwide, numbers are lower than they were at this point last year.

The number in the 9th Federal Circuit and Districts, which represents Tacoma, Pierce County, Washington State and 10 other territories and states, follows the national trend.

From September of 2012 to September of 2013, Chapter 7 Bankruptcies are down by 1,509. Chapter 11 is down 390 and Chapter 13 is down 165. This is great news for consumers, business and families. 2,064 more individuals and business stayed afloat this past year than from 2012.

What does this mean for Tacoma? Well, Tacoma will be healthier, roads may get repaired, schools will get funded and families will be able to live without the stress of money. This slight economic upturn may not last, but for now, it appears that the economy is getting stronger and more of our friends, family and neighbors are making their paychecks work.

While the news is good for the country, we understand that times are still tough. Many are living month to month, or hoping to dig themselves out of a pile of debt that they just can’t climb. We are here to help. As Tacoma’s Premier Bankruptcy Lawyers, we are ready for your call and ready to help assist you on getting back on your feet.

If you need help or have questions, contact us today.
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