Bankruptcy filings in South Florida have decreased
In a report written by Marcia Heroux Pounds with the sun-sentinel and the U.S. Bankruptcy Court released the bankruptcy filing statistics for South Florida residents which have plummet 5 percent in one month. There is a decrease from 2,402 bankruptcy filings to 2,389 bankruptcy filings just from January to February of this year. But, as of today the U.S. Bankruptcy Court does show an increase of bankruptcy filings by 5 percent from February of last year.
In Palm Beach County, there has been an increase of bankruptcy filings of 8.5 percent; this means that there have been about 388 to 421 bankruptcy petitions filed from January to February of this year, in Broward County the bankruptcy filings fell 5 percent, which dropped from 842 filings to 799 filings. Over a year’s time, the bankruptcy filings in Broward went up 7.5 percent, from 743 filings to almost 800 filings and in Miami-Dade County, the bankruptcy filings dropped from 1,172 bankruptcy filings to 1,169 bankruptcy filings, just from January to February of this year, the bankruptcy filings are reduced by 3 percent from February of last year.
Due to numerous foreclosures still pending in the courts, they say that is one reason why the personal bankruptcy filings have reduced, but we may see an increase in filings of bankruptcy sometime after April because the financially challenged people should have received their 2010 tax refunds, which should allow them to pay for their bankruptcy fees.
If you or you know someone who may be having some financial difficulties, and you have questions, call our knowledgeable bankruptcy attorney with the Jupiter Legal Advocates.
