MachiLaw.com Articles

The Reason Bankruptcy Filings Have Decreased From Last Year

There has been a decrease from last year in bankruptcy filings  due to new changes between banks and consumers. Banks have started tightening credit, and mortgage lenders have stopped foreclosures due to challenges in their internal processes. Some debtors will have already filed for chapter 7 bankruptcy in the past two years, or need to wait eight years from filing their last chapter 7 bankruptcy.