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Bankruptcy Filings Fall 8.8% in Illinois

Although it is small right now, there is hope that the economy will turn itself around, leading to less bankruptcy filings over time.

According to a well-known bankruptcy research center that operates nationally, filings for the first half of this year showed a decline from the same period a year before. In Illinois alone, bankruptcy filings fell 8.8 percent. This is even better than the national average which is hovering around 7.9 percent. During the first six months in Illinois, there were 37,437 Chapter 7 bankruptcy filings. From January to June of last year, there were 41,306 filings throughout the state.

While a peak in bankruptcy filings happened in 2005, just before Congress was about to make changes to national bankruptcy laws, the number of filings is still considered extraordinarily high. If you or someone you close to you have decided to file for bankruptcy in Illinois, it is important that your secure advice and guidance from a Chicago bankruptcy lawyer immediately. With an attorney on your side, you will find that the bankruptcy process is not only smoother, but faster. To get legal help, contact Bizar & Doyle, LLC today!
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The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100