Bankruptcy Knoxville

There is no question the current economic climate is causing greater and greater strain on Americans everywhere. In Tampa Florida it has resulted in a 50% increase in bankruptcy filings from last year. That’s a huge 12-month increase. To put it in perspective, last year’s 12-month running tally stood at nearly 39,000 people. This year’s 12-month running tally is nearly 58,000 filings. And that’s just the middle district of Florida. This district has been hard hit by the housing crisis, job loss, and other economic factors, but it’s indicative of a nationwide trend in bankruptcy filings. The good news out of these numbers? The rate or rising bankruptcies appears to be slowing. So perhaps there is a silver lining to this dark financial cloud hanging over us. Tampa Bay Online reports:

During the 12 months ended Sept. 30, 57,956 people and businesses filed for all forms of bankruptcy protection in the U.S. Bankruptcy Court’s middle district of Florida. The middle district encompasses Central Florida, Southwest Florida and the Jacksonville area, but excludes South Florida and Northwest Florida.

The numbers for the district are up 49.7 percent from the same 12 months last year, when 38,725 people and businesses filed for bankruptcy protection, according to new data from the Administrative Office of the U.S. Courts.

Florida’s middle district is faring worse than the nation overall. During the same 12-month period, the number of bankruptcy filings nationwide rose by 34.5 percent.

Are you struggling to make ends meet? Wondering what to do about it? You’re not alone! Call us if you have Knoxville bankruptcy questions. We can answer your questions and get the law on your side. Call now.