Will There Be a Mass Bankruptcy Filing Before Any Kind of Economic Recovery?


Huntington Beach, CA -- (SBWIRE) -- 05/17/2013 -- Now that summer 2013 is right around the corner, many Americans are wondering when they will start seeing the fruits of the economic recovery that has been reported by the media. The experts at DebtFreeBankruptcyAttorney.Com have been working diligently to decipher truth from fiction when it comes to economic matters. The number of Americans that are filing for bankruptcy continues to decline alongside a lower reported unemployment number. The only problem with this is, it doesn't make any sense. After a smash and grab that happened on the Comex with silver and gold, most Americans are losing faith in the system. The experts at DebtFreeBankruptcyAttorney.Com said they will continue to watch the commodities market closely, including gold and silver, to compare availability versus the prices in the paper market. After doing a bit of research DFBA reported a severe shortage in the physical silver market and although gold is still available, most dealers are charging an increased premium. DFBA stated they will continue to keep a close watch on these volatile markets and report as the news is released.

Last week, the federal government released a rosy unemployment picture that included the addition of 165,000 new jobs in the US. This addition of new jobs lowered the unemployment number to 7.5%. Once again one professional at DFBA started doing a little digging and found out that back in 2008, close to 63% of Americans working age group of 15 to 63 were employed and the reported unemployment number was well over 8%. As a result of this investigation it was found out that the latest released employment numbers for April 2013 was 58.6% of the same age group was currently employed and the unemployment number dropped drastically to 7.5%. That leads to the question, how can the unemployment number keep declining if the actual number of people employed is also declining. The folks at DebtFreeBankruptcyAttorney.Com continue to believe that if it weren't for the banks pushing out credit to the consumers, many Americans would be currently in the process of filing bankruptcy. As previously reported by DFBA, debt ratios to income continue to rise above the last reported 154%. Many consumers are waking to the fact that inflation is beginning to rear its ugly head that will force many Americans into bankruptcy. Those individuals that continue to watch the Dow reach record highs and believe that the economy is now in full recovery mode should wake up soon before they find themselves in dire straits.

For someone who is considering a bankruptcy filing, they are not alone, in 2012 close to 1.3 million Americans used bankruptcy as a way to stop aggressive creditors from harassing them. It's true that no one really wants to file for bankruptcy, but in these uncertain times it might not be a person's last decision but their best decision. Filing bankruptcy is not something to be ashamed of or feared and is typically caused by circumstances that are beyond one's control. Bankruptcy was created by Congress with the idea to give good hard-working Americans a fresh start and a second chance. An individual should not feel bad about having to file as many corporations file bankruptcy every day without hesitating and they will exit the process being leaner and meaner to continue on for years to come.

As many Americans struggle to pay their bills this year, the pros at DebtFreeBankruptcyAttorney.Com will continue to help as many as possible.

Many people are continuing to live with hope that the economy will recover quickly. Sometimes it's better to be realistic and protect the family's assets before it's too late. Individuals contemplating filing bankruptcy or some kind of debt elimination should take the time to consult a bankruptcy attorney before their creditors take legal action against them. Trying to do the right thing is noble, but many times will end up putting the individual’s family in further financial distress. Bankruptcy no longer carries the stigma of yesteryear and is now considered a legitimate way of dealing with a personal financial crisis. If you are buried under mountains of debt, don’t wait till it’s too late, consult a bankruptcy attorney about your personal situation.

Abou8t DebtFreeBankruptcyAttorney.Com
DebtFreeBankruptcyAttorney.Com is a California Limited Liability Company formed with the assistance of experienced attorneys, paralegals, and other legal professionals, all dedicated to the idea that the average person should be able to easily access a local bankruptcy attorney for a FREE Evaluation of their specific financial situation. If you need legal advice, then only a bankruptcy lawyer can help you. For assistance with your bankruptcy filing options, DebtFreeBankruptcyAttorney.Com is your answer. We are a Christian-based company with the highest standards of honesty and integrity.

“For I know the thoughts that I think toward you”, says the Lord, “thoughts of peace and not of evil, to give you a future and hope.” Jeremiah 29:11

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