You Are Not Alone – Bankruptcy Filed Every 15 Seconds

You are not alone.  An American is filing bankruptcy every 15 seconds, according to my Bankruptcy Law Network colleague, David Leibowitz of Lakelaw in Waukegan, IL.

For the counting period ending in June, 2010, 1.5 million bankruptcies were filed in the United States, up 20%.  Why so many filings?   David says the bad economy, unemployment, foreclosures and increasingly aggressive collection efforts are the culprits.

David reminds us that debtors have rights, too.  The Kansas homestead exemption in the state constitution and bankruptcy in the United States Constitution protect debtors. These ideas were not new to our founding fathers.  Debt forgiveness has roots in the Bible.

About Jill Michaux

Jill Michaux is a Kansas bankruptcy attorney. She can be found on Google+. She and her partner, Mark Neis, are Topeka's only board certified consumer bankruptcy law specialists.