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Bankruptcies Growing higher in Southern Texas

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Bankruptcies Growing higher in Southern Texas

Statistics support the fact that Texas bankruptcies have fallen in 2010 from 2009. Actually, for the entire state of Texas, there was a 7.1 percent decrease. Even with this drop in bankruptcies, a Houston bankruptcy lawyer knows that the 2010 level for bankruptcy filings is still 33.8 percent higher than it was in 2007.

Bankruptcies up in some areas of Texas

In 2010, the state of Texas had 54,130 bankruptcy filings for Chapter 7 and 13. In 2009, there were 58,239. However, the Southern District of Texas, which handles bankruptcy filings in Houston and in six other localities, shows that the total bankruptcies for these areas were higher in 2010, than in 2009. Accordingly, there were about 15,052 total bankruptcy filings in 2010. Personal bankruptcy filings amounted to about 14,820 of them. In 2009, there were about 13,878 bankruptcy filings. Personal bankruptcy filings amounted to about 12,726 of them. In these areas, bankruptcies were up by 1,174.

A Houston bankruptcy lawyer can tell through these statistics that the southern areas of Texas, including Houston, may not be financially fairing as well as the entire state.

Personal Debt

Statistically, each person in Houston, Texas had a personal debt level of $5,720 in 2009. This is surprising because Chicago' debt level per person was $5,274 and New York City' debt level per person was $7,760. New York is the largest city in our nation. Chicago is the third largest.

Unfortunately, a Houston bankruptcy lawyer can tell that many consumers are living in the world of debt. As of March 2010, Texas consumers owed the second highest level of debt when it came to automobile loan debt. The average automobile owner owed $14,372 dollars. Nevada auto owners ranked the highest, owing $14,376 on each auto loan debt.

Car loan debt delinquencies that were sixty days past due made up 0.81 percent of all car loan debts nationwide. Texas was higher than the national average. Texans had a delinquent rate of 1.01 percent. It was the ninth worst state in our country for car loan debt delinquencies, that were past sixty days. A Houston bankruptcy lawyer knows how to help with this type of debt or any other type.

There are 1,116,967 practicing lawyers in our country. That is one person in every 300 people. There are many lawyers. But, a Houston bankruptcy lawyer can tell you that it is not the number of lawyers that count. It is that specific lawyer who has the experience, the knowledge of Texas laws and the understanding of your needs, that is important.

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