Decline of Denver Chapter 7 or Chapter 13 Bankruptcies

Bankruptcy filings are going down according to recent statistics published by the Administrative Office of the US Courts. They released the yearly statistics that list the number of Chapter 7 and Chapter 13 bankruptcies for 2011 recently and Denver Bankruptcy lawyers see that the recession is slowly beginning to taper off. The economic forecast is promising. This gives millions of people across Colorado the best shot at receiving a fresh start with a Chapter 7 or Chapter 13 bankruptcy.

Many people who filed in years past had to wade through many more unstable years economically, and were fighting an uphill battle after a Chapter 7 or Chapter 13 bankruptcy. According to the statistics, the economy may actually be a positive factor, helping people rebuild from a Chapter 7 or Chapter 13 bankruptcy instead of hindering them, and the financial outlook looks particularly promising for Denver, Northglenn, Arvada, and many other cities across the Colorado Front Range.

The statistics report shows that Florida, Michigan, and California were among the regions with the highest number of Chapter 7 or Chapter 13 bankruptcies filed. In addition, Tennessee reported the highest number of Chapter 13 Bankruptcies, and Georgia and Nevada had the highest number of Chapter 7 Bankruptcies. In contrast, Colorado had a drop of 12% in bankruptcies in the first six months of 2012. The report states that Colorado was a bit behind the national average, but the economy still has room to grow, and it is best to take advantage of that with a fresh start provided by a Chapter 7 or Chapter 13 Bankruptcy.

If debt collectors are hassling you, you are being threatened with wage garnishments, or are on the verge of having your house or car foreclosed or repossessed, take advantage of a bankruptcy. You will be able to successfully rebuild your credit as opposed to years past when the economy did more to hinder than help. Contact experienced Denver Bankruptcy attorney Barry Arrington at 303-205-7870 for your best, fresh start possible.