High unemployment, tapped out home equity, and runaway credit card interest rates have given rise to a steady increase in Bankruptcy filings. Nationwide Bankruptcy filings have increased from June 2006 to June 2010 over 100% from 751,056 filings per year to 1,572,397 filings per year. California ranks as the number one Bankruptcy filing state in terms of per capita filings increase in 2010. California Bankruptcy filings have gone from 70,653 filings per year in 2007 to 205,705 filings in 2009. We are on pace in California for over 250,000 bankruptcy filings in 2010.

The current economy is leading many people to deplete their savings and go deeper into debt. The housing crisis has left many people substantially upside down on their homes, with some facing increasing adjustable mortgage rates. Talk to a lawyer, and find out what your options are and what is likely to happen regarding your house.

It is important to talk to a Bankruptcy lawyer before you deplete everything that you have. There are certain assets that a debtor can keep in the Bankruptcy process. Do not wait until it is too late. The smart thing to do is get a free consultation with a lawyer, then you can make an informed decision after you have all the facts.

If you have fallen behind on your bills and are being harassed by creditors contact Tom Conlon, a bankruptcy attorney Sacramento at (916) 971-8880 to see if you qualify to file bankruptcy and get a new fresh start.