Posted On: January 13, 2010

Rise in Bankruptcy Among Middle Class Citizens

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!

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