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San Diego Bankruptcy Lawyer

The cities and counties in California have been on an economic landslide for a number of years. Unfortunately, this includes San Diego. Residents have been thrown into circumstances that they have never had to deal with. Many of them have decided to contact a San Diego bankruptcy lawyer.

In 2010, there were 260,210 total bankruptcy filings in California. This included San Diego. Out of that amount, 251,306 were for filing Chapter 7 and 13 bankruptcies. In 2009, there were 209,378 total bankruptcies filed. Out of that amount, 200,366 were for Chapter 7 and 13 bankruptcy filings. Total number of bankruptcies increased by 50,732 in 2010 from the previous year. Most of this increase was from filings of Chapter 7 and 13 bankruptcies. A whopping 41,928 more people filed for bankruptcy in California in 2010 than in 2009.

San Diego has had its share of economic woes. Their unemployment rate did fall from 10.7 percent to 10.2 percent in October of 2010. However, this is still very high. About 17,000 jobs were lost between the months of June and July. That is a large amount of unemployment in a relatively short period of time. Many feel that this had happened because of the termination of the temporary employees for the 2010 Census Bureau. These jobs gave a false economic level of increased employment.

Home prices in San Diego continued to fall in 2010. Between July and November, home prices fell again. This time at the rate of 3.28 percent. Most blame it on the federal government's expiration of the tax rebate program for homeowners. But, even this was a temporary program that gave a false economic level of increased home purchases. A San Diego bankruptcy lawyer will explain that most people need to file bankruptcy because they owe considerably more on their mortgage than the house is worth.

Another economic woe for San Diego is the amount of vacancies in commercial building sites. In 2010, the vacancy rate was 20 percent. The country's commercial vacancy rate was 17 percent. A 20 percent vacancy rates means that one in five commercial buildings are sitting empty and not contributing to the economic employment growth.

There are over 100,000 practicing and licensed attorneys in San Diego. A San Diego bankruptcy lawyer knows the criteria for seeing a rise in the number of bankruptcies. San Diego residents have met many of them.

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