Crestview Debt Consolidation Lawyer Highlights Personal Bankruptcy Trends

Crestview, Fla. - Lewis and Jurnovoy a Crestview debt consolidation law firm is highlighting personal bankruptcy trends across the nation. As the Coronavirus continues to sweep the nation leaving millions unemployed personal bankruptcy numbers are surprisingly low. Even more surprising not only is the personal bankruptcy numbers low they are plunging, dropping 47% compared to this time last year.

According to the American Bankruptcy Institute, personal bankruptcy claims are down 24% for the first six months of the year over last year. While this may be surprising, bankruptcy experts point to multiple different factors that may be affecting the lower numbers. These factors include courts being closed, evictions being postponed, extra government support and highly forgiving creditors.

However, Lewis and Jurnovoy predict that there will be an increase of personal bankruptcies cases coming in the fall. As the government support ends and evictions or foreclosures move forward, those in debt are going to need an answer. While people usually take a while to decide on filing for personal bankruptcy, this may be something they are already considering as they brace for the nation to start moving forward again.

Crestview Foreclosure and Student loan lawyers Lewis and Jurnovoy is committed to keep the local community up to date on bankruptcy news as the pandemic continues to sweep the nation. Lewis and Jurnovoy has been a trusted voice in the local area and partners in bankruptcy lawyer since 1998. For more information about personal bankruptcy feel free to give them a call at (850) 409-3350 or visit them online at www.lewisandJurnovoy.com.