Reuters recently reported that business bankruptcy filings in the US dropped greatly by 24 percent in last year to their lowest level since the year 2006. People who have hired Ft. Lauderdale Bankruptcy Lawyer have been relieved of big financial burden. In general, bankruptcies by individuals and businesses combined fell 13 percent according to the American Bankruptcy Institute. In 2007, the number of individuals and businesses filing for bankruptcies spiked in US as recession had entered. This number has fallen progressively in the previous years due to the US Federal Reserve has kept borrowing coast low.
A report early this week said that 44 111 businesses filed in 2013, evidently down from 57 964 in 2012. This report has been compiled for the ABI by the bankruptcy claims processor Epiq Systems Inc. The report said that the total filings by individuals and businesses fell to 1.03 million from 1.19 million in 2012. This figure fell in every state but rose by 7 percent in Puerto Rico which has been hugely affected by prolonged recession.
Teresa Kohl, believed she expected businesses to keep on to avoid filing for bankruptcy, even if it might be in their interests to do so. She is a bankruptcy expert at SSG Capital Advisors, an investment bank that specializes in corporate restructuring. She added, “Bankruptcy is still viewed as expensive proposition and it's something that people tend to avoid at all costs, I don't think in 2014 there is going to be any dramatic change.” With this, it is clear that the Ft. Lauderdale Bankruptcy Lawyer has more to offer in terms of legal assistance.
Winston I. Cuenant, Esq., is a highly talented French speaking attorney Miami who can extend his helping hands to guide towards a successful legal battle. He can handle case in real estate, civil litigation, filing for bankruptcy and more.