Orlando Bankruptcy Attorneys, Clark & Washington, Address 1,238 Bankruptcies in Orlando in January

    NORCROSS, GA, May 23, 2013 /24-7PressRelease/ -- Orlando bankruptcy attorneys, Clark & Washington, discuss the continued drop in bankruptcies in the city. This positive trend, sadly, has received less coverage than the well- publicized local bankruptcy filing by Casey Anthony, who was famously acquitted of the murder of her two-year-old daughter, Caylee, in 2011.

Despite continued high unemployment rates and economic uncertainty, the residents of the Orlando area seem to be climbing out of the recession that hit in 2008. Consumer bankruptcies in Central Florida were lower in 2012 than at any point since 2008. For two years in a row, the number of people declaring insolvency in Orlando's U.S. Bankruptcy Court declined by more than ten percent, according to data by the federal courts.

Reasons for the Decline in Bankruptcies in Central Florida
Some positive economic indicators that may explain this decline include:
1) the unemployment rate, which has decreased
2) residential real estate prices, which have ticked upward since the housing market fell apart in 2007
3) increasing consumer confidence

Another explanation could be that many people in Central Florida have stabilized their finances. They have been paying down their credit card debt faster than households in all but two other large metropolitan areas nationwide.

Bankruptcy cases began to decline in early 2011 in Orlando. Bankruptcy lawyers noted that this coincided with the government investigations of allegations that some mortgage lenders and their law firms had filed thousands of unreviewed foreclosure documents.

Foreclosure Rate Still High in Metro Orlando
Orlando bankruptcy attorneys explain that the moratorium on foreclosures resulted in a drastic decline in personal bankruptcies. Florida foreclosures resumed in 2012, and Orlando led the country in foreclosure activity during the third quarter of 2012. However, bankruptcy cases continued to decline.

Clark & Washington has been handling bankruptcy in Orlando for almost three decades. They are mid-Florida's largest bankruptcy filer, and handle only personal bankruptcy cases.

To make an appointment for a free consultation with one of Clark & Washington's local Orlando bankruptcy lawyers, visit http://www.orlando-bankruptcy-help.com.

About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information, visit http://www.orlando-bankruptcy-help.com.

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Allie Petit
Content Manager
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http://www.CardinalWebSolutions.com

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