The number of Bankruptcy filings through the first half of the year has increased almost 37%. Business bankruptcy filings have increased in the first six months almost 110%. Over 1.5 million bankruptcies being filed this year could be a reality.  Things are also heating up again in Congress. The proposed cram down legislation, which was put on hold, is once again starting to gain some momentum.
 
As the unemployment rate, the number of foreclosures and the overall cost of living continue to rise, the number of bankruptcy cases will as well. There could be new legislation or case interpretations, and Creditors need to be aware of the ever-changing playing field. Through our Trendline articles as well as our Bankruptcy Blog, which is updated regularly at http://wwrbankruptcy.com, the Bankruptcy Team at WWR will keep you updated and provide strategies that allow our clients to be in a position to best handle their bankrupt portfolios and mitigate their losses.

As children all over the country will be going back to school, they wonder what the new school year will bring. From a Creditor standpoint, we know what we will be facing … a challenge. We will be dealing with an increased number of bankruptcy cases.