I Need Help Now
Special Discounts For
Hurricane Victims!
Nowack & Olson, PLLC
South Florida
Bankruptcy Attorneys
Free Consultation

Florida bankruptcy case filings may increase again

The mortgage crisis of 2008 and the recession and flood of defaults and foreclosures that resulted have left a great deal of wreckage across the landscape in Florida. And nowhere is that damage more obvious than in bankruptcy court.

That economic crisis triggered by the real estate bubble has left a backlog of cases in the bankruptcy courts, as they deal with the individual debtors and their creditors on a one-by-one basis. The U.S. Bankruptcy Court for the Middle District of Florida reports that they currently are carrying 68,000 cases.

The court has seen a 20 percent drop in new filings in the last 12 months, which is the lowest level in four years, according to a news article in the Tampa Bay Times.

While the number of cases coming in has decreased, the backlog will still take years to work through. In addition to the crush of cases over the last four years, part of the problem is courts that have had to deal with reduced staffs and budget freezes that eliminate any chance of increasing capacity.

A bankruptcy trustee in the article expects the number of filings to increase again, as some borrowers who received a temporary reprieve because of the "robo-signing" scandal or had been working with lenders to modify their mortgages, succumb to economic forces and turn to bankruptcy for protection.

Because of all of these challenges, if you are considering bankruptcy anywhere in Florida, speak with a bankruptcy attorney who can examine your situation and recommend a strategy to being rebuilding your financial health.

Source: Tampa Bay Times, "Backlog of bankruptcy cases persists despite drop in filings," Jeff Harrington, November 24, 2012

No Comments

Leave a comment
Comment Information
Email Us For a Response

Let Us Help You

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Sunrise Office
8551 West Sunrise Blvd., Suite 208
Plantation, FL 33322

Toll Free: 888-813-4737
Phone: 954-349-2265
Plantation Law Office Map

Doral Office
8180 NW 36th St., Suite 102
Miami, FL 33166

Toll Free: 888-813-4737
Phone: 305-698-2265
Miami Law Office Map

Boca Raton & Delray Beach Office
6501 Congress Ave., Suite 100
Boca Raton, FL 33487

Toll Free: 888-813-4737
Phone: 561-463-2265
Boca Raton Law Office Map

Jupiter & Palm Beach Gardens Office
601 Heritage Dr., Suite 137A
Jupiter, FL 33458

Toll Free: 888-813-4737
Phone: 561-463-2265
Jupiter Law Office Map