Sacramento Bankruptcy Lawyers Blog

A Sacramento Bankruptcy attorney comments on the increase in bankruptcy filings in 2009

As compared to 2008, personal bankruptcy filings increased by 32% in 2009 according to statistics gathered by the National Bankruptcy Research Center. As the country’s financial situation continues to decline, many Americans are forced into bankruptcy due to unemployment and home foreclosure rates. Altogether bankruptcy filings hit 1.41 million in 2009, the highest number since 2005 when Congress modified bankruptcy laws to make it more difficult to file. As of November 2009, filings for Chapter 7 bankruptcy were up more than 42% with Chapter 13 filings up 12%. States showing the largest increase in filings since 2008 were Arizona, followed by Nevada, California, Wyoming and Utah. The states with the lowest increase included Nebraska, Pennsylvania, Alaska, Tennessee, and South Carolina.

The statistics further show that the overall proportion of bankruptcy petitions filed jointly has increased from 30% to 36% in 2009 as more families were forced to seek bankruptcy relief amid the country’s recession. The bad news is that the trend in increased bankruptcy filings is only expected to rise in 2010. Many previously solvent consumers have been left with no choice but file for bankruptcy in light of rising unemployment, high debt amounts and unsustainable mortgages. Industry experts find the situation grim and only expect it to get worse before it gets better.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

A Roseville bankruptcy attorney comments on the lawyer arrested on charges of loan modification fraud...

It's been released that a Southern California lawyer, and his business partners were arrested on charges of defrauding over 400 victims in a $1.25 million loan modification scam. The attorney, Christopher Lee Diener and his business partners, Stefano Joseph Marrero and Terrence Green Sr. were each charged with "one felony count of conspiracy to commit grand theft and 97 felony counts of grand theft by false pretense with setencing enhancements for white collar crime and excessive taking" according to a recent press release by the Orange County District Attorney's office.

The trio are alleged to have defrauded hundreds of distressed homeowners by guaranteeing a loan modification, and promising to negotiate lower interest rates, reduce principal, and have lenders forgive second mortgages or late fees. Clients were required to pay in advance for their services that were never provided. In total, they are accured of fraudulently taking $1.25 million, including over $350,000.00 from credit card companies who had to refund cardholders for the fraud. The defendants are further accused of soliciting client referrals in exchange for referral fees which were never paid.

Anyone with additional information, or anyone who believes they are a victim of the scam, is encouraged to contact the supervising district attorney on the case. Homeowners are advised that throughly examine the nature of services promised by those offering loan modification services, and are discouraged from paying professional fees in advance.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Roseville Bankruptcy Lawyer comments on housing market...

As a Roseville Bankruptcy Attorney, I have noticed several news sources have reported that the housing market will take a significant period to recover. Economist predict that it could take up to a decade for many homeowners to see equity in their homes, while those in the areas that were hit the hardest may not see complete restoration of the market in their lifetime. Since their peak in 2006, it's been reported that home prices have fallen another 30%, and many experts predict that the market will take another hit as foreclosures pile up. Experts are further concerned that recent government incentives to restore the market such as low interest rates and tax credits will actually lead to another crisis when the measures providing these incentives expire.

In places such as California, where the housing market saw a significant drop in home values, it's predicted that it could take as long as fifteen years to recover according to the chief economist for the national Association of Realtors. Within the state, the Sacramento area was hit particularly hard, and it should not come as a surprise that it will take longer for places such as the Sacramento area to recover because prices fell more steeply.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

A Sacramento Bankruptcy Attorney speaks on homeowners and foreclosure...

A recent New York Times editorial I read in my Sacramento Bakruptcy Law Office commented on just how few people have benefited from the current administration's program to help families at risk of losing their home by lowering payments through loan modifications or refinancing loans. It was predicted that up to nine million families would benefit by the end of 2012, yet in 2009, only 66,465 loans were successfully modified, and through last November only 155,700 loans had been successfully refinanced. With an estimated 2.4 million borrowers expected to lose their homes in 2010, it doesn't appear that the current program, despite good intentions, is working. According to estimates on Economy.com, it would take 100,000 successful loan modification per month, to significantly counter the treat that 2.4 million foreclosures poses to the economy.

One of the biggest flaws of the current loan modification program, by reducing the interest rate on the loan, is of limited help to borrowers who owe more on their homes than they are worth. Instead, reducing the loan's principal balance is more helpful because it not only lowers monthly payments, it restores equity; and it has been found that having equity reduces the likelihood of default on a modified loan. Reducing the principal, however, is likely not something that most lenders would agree to; particularly if there is more than one loan on the residence. Treasury officials have stated that they continue to review the administrations anti-foreclosure effort and consider alternatives; hopefully more homeowners will see relief soon.

If your home is at risk of foreclosure, regardless of whether or not you are seeking to modify the loan, you may consider discussing your options with a bankruptcy attorney.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bankruptcy Attorney finds interest in an investment fraud lawsuit...

Other Sacramento Bankruptcy Lawyers may have also read the news sources report that California's state-run earthquake insurer is filed a law suit last week against Wells Fargo & Co.'s Wachovia unit, alleging fraud in connection with a failed $62.3 million investment. The California Earthquake Authority accused Wachovia of unlawfully and recklessly investing funs in a high-risk vehicle tied to subprime mortgage loans. Wells Fargo, which purchase Wachovia in 2008 has denied to allegations and stated that they intend to vigorously defend against this lawsuit.

In August of 2008, one of Wachovia's traders invested $62.8 million of the California Earthquake Authority's money in an investment known as Mainsail II, LLC; an entity consisting mainly of securities back by suprime residential and commercial mortgages. Mainsail was not on the "approved-issuer" list which had previously been drafted by the quake authority, making Wachovia's decision to purchase this security very risky and unauthorized.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bakruptcy Attorney remarks on Eastern California bankruptcies....

While the nation has seen a 32 percent rise in bankruptcy filings as compared to 2008, in the Eastern District, the percentage increase is even greater. News sources report that Modesto, for example, has seen a 50% rise in bankruptcy filings. Many local attorneys claim that unemployment plays a significant role in this rising number. For example, counties such as Calavaras and Toulumne; both counties within the jurisdiction of the Eastern District, have unemployment rates of 15% and 13 percent respectively. In these areas, much like most of the nation, signs of economic recovery seem nonexistent.

All too often, when a client comes into our office they are cashed out their retirement or taken huge cash advances to be able to keep their home from being foreclosed upon. While giving up your home can be painful, debtors are advised not to cash out retirements or use credit cards to pay the mortgage. This is because retirement accounts, in particular are protected from creditors getting their hands on it.

Those contemplating bankruptcy in most circumstances need it and should seek the advice of an attorney. Many attorneys are willing to meet clients to assess their situation, and give the consumer some options, one of which may be bankruptcy.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bankruptcy Attorney notices the rise in bankruptcy among the middle class...

Several news sources have reported a significant rise in personal bankruptcy filings last year.
As a Sacramento Bankruptcy Lawyer, I know that at least 1.4 million Americans filed for bankruptcy last year; many of them, your average, hard-working middle class citizen who had no other alternative after losing a job, seeing their business suffer, or facing foreclosure.

One local resident, Frank M. states that he found himself $100,000 in credit card debt, after losing his job 2 years ago and being unable to find a new one. He had cashed out his retirement to make ends meet, and when that was depleted, he turned to credit cards. He tried to consolidate his debt and work out a repayment plan through a debt relief agency but the plan did not work out. Feeling like he had no other alternative, he sought the assistance of a bankruptcy attorney.

Like Frank, many people that seek the assistance of bankruptcy attorneys these days were people who were living comfortably just a couple of years ago. These are hard-working people who could have never imagined that they would be filing for bankruptcy, and are extremely embarrassed and/or conflicted about not being able to pay their debts back. These are people who got in deep debt just because they were trying to make ends meet each month. Attorneys across the country say that they rarely consult an individual who had run up huge debt with no intention of paying it back.

People should be aware that filing for bankruptcy does not equate a moral failure on their part. It's actually an opportunity to clean the slate and start over.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bankruptcy Attorney states that there is news on local business...

News sources report that share of Sacramento based, Pacific Ethanol Inc. soared more than 80 percent this week after a positive report. Shares of Pacific Ethanol increased to $1.05 to $2.47 per share by midday and $2.65 the next morning. News sources report that almost 33 million shares traded as of the morning of January 11, 2010; this is about twenty times more than the average daily volume during the past month. The company’s ethanol producing divisions filed for bankruptcy protection last May after unfavorable market conditions. The company reports that they have now resumed ethanol production at it’s facility in Burley, Idaho after a 10 month shut down. Last month the company obtained the necessary court and lender approval to restarting the Burley plant, also known as the Magic Valley facility. The recent turn of events provides encouragement to other struggling businesses.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bankruptcy Lawyer remarks on the financial crisis in California...

Being a Bankruptcy Attorney here in Sacramento, I can't help but regularly tap into California-relevant news such as the sources report that Governor Schwarzenegger has asked for $6.9 billion in federal funding in the state budget proposal, warning that state health and welfare programs would be in danger without the bail out funds. In addition to the aid, he called for $8.5 billion in cuts and $4.5 billion in alternative funding to balance the state's budget currently looming at $68 billion according to the California Sate Treasurer's office. It's been reported that a the last time an American state defaulted on their debt was in the 1840s and there is fear among economist and experts in this area that if California defaults, the impact would reach far beyond California's state line.

Although unlikely, experts have theorized that that California could enter into a court supervised bankruptcy, much like what happens when a large corporation defaults. All creditors of the state, which include lenders, vendors, employees, pensioners, to name a few, would share in the losses. There is no provision within the bankruptcy code for a state to file for bankruptcy however so it remains to be seen what would happen if California were to default on the public debt.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bankruptcy Lawyer comments on travel slump...

In my Sacramento Bankruptcy Law office I read a news source report that California hotels are increasingly facing default or already in foreclosure. The travel slump which has also negatively impacted several airlines, along with declining real estate values, have forced many hotels into foreclosure. New sources report that figures released by the Atlas Hospitality Group indicate that hotels in foreclosure rose 313% from 15 locations in 2008 to 62 locations in 2009; and the number of hotels who have defaulted on their loans rose 479% from 53 locations in 2008 to 307 locations in 2009. The group further indicates that more than half of the foreclosed hotels have filed for bankruptcy protection. This news does not bear well for the commercial real estate market which is expected to have a significant impact on the number of bankruptcies filed in 2010.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

A Roseville Bankruptcy Attorney makes note of celebrity bankruptcy filings...

News sources report that actor Barry Corbin has recently filed for bankruptcy protection. Corbin, who is an Emmy Award nominated actor gained fame for roles in televisions shows Northern Exposure, Urban Cowboy, and Dallas. Corbin’s house is Forth Worth, Texas is currently up for sale. New sources report that Corbin, like many others in the economy, fell on hard times and was unable to pay his bills.

Many people in this economy have come up against unforeseeable circumstances whether it is job loss, pay cuts, decline in home values, or bills which simply got out of control. Filing for bankruptcy can offer individuals in the appropriate circumstance a fresh start.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

Sacramento Bankruptcy Lawyer Discusses the U.S. Houses’s recent vote rejecting mortgage cramdown measure

On December 11, 2009, the U.S. House of Representatives voted to reject a measure that would have allowed bankruptcy judges to change the terms of mortgages for distraught homeowners who were unable to keep up with their mortgage payments. The measure was defeated in a 188-241 decision. The controversial measure was introduced by Representative John Conyers (D-Michigan), chairman of the House Judiciary Committee. It would have allowed bankruptcy courts to reduce mortgage interest rates, adjust principal balances or extend the length of mortgages in an effort to save homeowners from foreclosures. Under the measure, homeowners would be required to seek a loan modification, upon which bankruptcy judges would determine whether the borrower was offered a qualified plan that would prevent them from changing the terms of the mortgage in the bankruptcy process.

Previously the House had approved a similar mortgage cramdown measure in March over the objections of Republicans and bank lobbyists. However, the measure was later defeated in the Senate. Of course, as with any controversial measure, both sides are hotly debated. Proponents of the measure claim cramdowns would help to stop the increasing number of foreclosures across the United States. Meanwhile, opponents of the measure state that doing so would raise costs for everyone and only serve to divert debt.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento County!

Sacramento Bankruptcy Attorney reports on recent bankruptcy filings...

News sources recently reported that bankruptcy filings in Sacramento and the Central Valley were at an all time high in 2009. The US Bankruptcy Court in Sacramento released figures that indicate that bankruptcies in the area were up nearly fifty percent from 2008. 45,924 bankruptcy cases were filed in the Eastern district’s federal courthouses in Fresno and Modesto; in Sacramento alone approximately 29,000 cases were filed. One court clerk in Sacramento opined that they are busier than they have ever been in the past.

Among the main reasons for needing bankruptcy protection include home foreclosure, loss of jobs and/or pay cuts. News sources report that unemployment in the Sacramento region currently stand at about 12 percent.

A bankruptcy trustee at the US Bankruptcy Court in Sacramento states that he saw about 70 cases per weekly session in 2009; a significant increase from 2008 when the court was hearing about 30 cases from week. The Clerk at the court predicts that bankruptcy filings are likely to increase in 2010 due to the sagging commercial real estate market.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!