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Central Illinois sees 14 percent drop in bankruptcy filings

Posted on Wednesday, October 12th, 2011 at 4:11 pm    

Central Illinois has seen a 14 percent decrease in bankruptcy filings in the most recent fiscal year that ended on Sept. 30.

According to records from the U.S. Bankruptcy Court in Springfield, this is the first time in three years that the bankruptcy filings have been under 10,000. Similar percentage decreases have been seen across the nation.

The type of bankruptcy that has had the least amount of filings is Chapter 11 reorganization. Officials have said that the amount of bankruptcy filings tends to fall during a down economy.

If you or a loved one are considering filing for bankruptcy, you need representation on your side that can make this process less intimidating and less complicated. Contact the Joilet bankruptcy lawyers of the Law Office of Stuart B. Handelman by calling 815-722-2201 today.