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Research shows increase in bankruptcy filings after tax refunds

Posted on Monday, March 26th, 2012 at 7:37 pm    

New research done by by economists at three prominent universities shows that the number of bankruptcy filings increase after people receive their tax return refunds.

In 2008, the year with the most recent data, the total number of bankruptcies rose from nearly 7 percent after taxes were refunded. Economists believe that this is because the fees to file for bankruptcy have increase since 2005.

If you or a loved one has been struggling with finances and are curious whether filing for bankruptcy will be beneficial for you, now is the time to discuss your options with experienced representation. Contact the Joliet bankruptcy lawyers of the Law Office of Stuart B. Handelman by calling 815-722-2201 today.