Turn on the news and it seems that even with talk of recovery, there’s still plenty of businesses and people being forced to declare bankruptcy. It’s something that’s been consistent with the economy in its current state. According to the American Bankruptcy Institute, the total number of bankruptcy filings in the US had an increase in February. The growth was 19 percent versus the filings in January. The total filings in January was 87,981 while February was 104,418.
Samuel J Gerdano is the executive director of the ABI says about the increase, “The stagnant housing sector and high unemployment continue to stress the cash flow of consumers and business. As consumers and businesses work to shed tremendous debt loads, there are times when bankruptcy is the only shelter to provide financial relief.”
Bankruptcy is a terrible thing to encounter. It has a long consequences not just on the finances of an individual, but also leaves a mental scar. As frightening as it can be, however, Approved Loan Store wants to make sure that people know that bankruptcy isn’t the end. We here at ALS look to work with people struggling from bad credit and want to help them drive away in the car they want and need. We can assist you get that car even after a bankruptcy. Go online and sign up to see how we can help you. Make sure to like us on Facebook to stay up to date on all the latest news and offerings we have.