This page was written, edited, reviewed & approved by Emil J. Fleysher following our comprehensive editorial guidelines. Emil J. Fleysher, the Founding Partner, has 15+ years of legal experience as a bankruptcy attorney. Our last modified date shows when this page was last reviewed.
For years economists and financial advisers have scratched their heads and wondered how so many Americans wound up in bankruptcy. The numbers show that total U.S. bankruptcies are in decline. U.S. bankruptcies dropped by 12% from November 2010 to November 2011. The total number of U.S. consumer bankruptcies should come in lower than 1.4 million.
Research has shown that Americans tend to wait far too long to look into bankruptcy protection. This is primarily out of shame and wounded pride. Half of the individuals interviewed wouldn’t even admit they were bankrupt. Despite the fact that it was on the public record and easily accessible by anyone else who cared to look. It’s all about shame because consumers who admit to being in bankruptcy and have a financial plan to deal with it are much more likely to get on their feet again than those who go underground.
Blaming the bankruptcy court is a big mistake. A bankruptcy discharge issued by the judge is merely a determination that the debtor is financially unable to pay his debts. Until bankrupt Americans acknowledge their situation and take steps to prevent it or manage it better once they’re in it, their financial situations will continue to suffer.
If you have questions about foreclosure, loan modification, bankruptcy, or other alternatives, please feel free to call my office at 954-484-9987. Or, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.
Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies.
He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.
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