Southwest Florida Bankruptcy Filings have Lowered Tremendously

Bankruptcy Filings

A couple of years after the recession, the rate of consumers and businesses filing for bankruptcy have dropped. They have dropped approximately 50 percent in Southwest Florida. Nearly 2,600 companies and residents in Charlotte, Manatee, and Sarasota counties solicited bankruptcy attorneys to defend them against creditors in the last year; this is about half of the bankruptcy filings in 2010. Unfortunately, it is still 500 more bankruptcies filed than when the economy crashed in 2007.

Between 2007 and 2010 the bankruptcy filings in the Southwestern region of Florida peaked at about 4,991 cases. The good news is that in the last year, all 3 counties saw in total 2,595 bankruptcy petitions proposed. They have gone down exponentially by 48 percent from the petitions filed at the height of 2010. And, it has lowered by a 16 percent rate in comparison to 2012.

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