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Financial experts have also noticed a growing rise in the number of seniors, ages 65 and above, that are filing bankruptcy.  While there is a lot of debate around this, most believe that it has a lot to do with health care and the costs that have risen to the point where health care is almost impossible to maintain.  It is agreed, however, that there is a direct affect on senior citizens in relation to the economy and how it influences health care.

The changes to the bankruptcy laws in 2005 made it so that if someone had the financial means to repay part or all of the debt that they owe, they could choose to file under a Chapter 13 or a Chapter 7.  The Chapter 13 is a repayment plan of sorts that can be compared to a debt consolidation, while the Chapter 7 is a liquidation and wipes out all debt that is included in the filing proceedings.  There has been a rise in both of these chapters, but more so in the Chapter 13 filings because it is helping more people avoid losing their home to foreclosure.

With the economy in the state that it is right now, it seems like there will be no end in sight.  The government seems to be somewhat trying to help the situation, but the reality is that the people that run our government are not where the rest of us working Americans are.  They have their multi-million dollar homes and their fancy cars, and aren’t feeling the sting of wondering where your family is going to live when the house is gone or where the next meal is going to come from.  Until the economy repairs, we are stuck in this dark tunnel.

Ken Allen Law – Injury attorneys assisting clients in Valparaiso, IN who have been involved in auto accidents.

The Law Firm of Gerard Lynch – Social Security Disability Attorney represents clients in Pasadena, TX and surrounding areas.

Houston Truck Accident Lawyer Steve Gordon- Providing nationwide legal representation for those who have been seriously injured in truck accidents.

WillDefendU.com- California DUI law firm assisting clients who require legal representation due to a DUI violation.

Car Accident Lawyers in Clearwater, FL – Accident Attorney Erik Abrahamson

Central Florida Injury Lawyers – Personal injury lawyers in Orlando, FL