Bankruptcy Filings Down in Western New York

Written by CFB Blogger. Posted in Blog

The monthly report from the U.S. Bankruptcy Court Western District of New York shows that only 345 bankruptcy cases were filed in July, a significant decline from 476 cases that were filed in July 2013. 234 of those bankruptcy cases were filed in the greater Buffalo region; 163 of those were Chapter 7 bankruptcies. According to an article in Buffalo Business First by Allissa Kline, the YOY decline of just over 21% reflects many experts’ observations. They point to continuing low interest rates, the relatively high cost of filing for bankruptcy and the continually-improving economy. To date, 2,545 local cases have been filed, down 14.5% from 2,978 cases in 2013. Of the 17 counties in the district, Erie County saw the highest number of bankruptcy filings; a total of 137 during July and over 1,200 to date this year. Your debt is a serious matter that you need to deal with now. Filing for Chapter 7 or Chapter 13 personal bankruptcy is complicated. You need a knowledgeable and experienced bankruptcy attorney from Client First Bankruptcy at your side to guide you through every intricate step. Log onto www.clientfirstbankruptcy.com for important and up-to-date information on filing your personal bankruptcy or call us toll-free 800-383-6004 for your free initial consultation. We answer our phones Monday through Friday from 8:30 a.m. – 6:00 p.m. Central Time so you can get answers when you need them.