From Curtis Law Group’s blog:
“According to the Orange County Register online, bankruptcy filings in March 2010 are up from February, as well as from March of 2009:
“Bankruptcy filings increased for the month and quarter throughout the U.S. Bankruptcy Court’s Central District, covering seven Southern California counties from San Luis Obispo to the Arizona border.
Attorneys who specialize in bankruptcies continue to be busy, said Marc Winthrop of Winthrop Couchot in Newport Beach, which specializes in business bankruptcy reorganizations.
‘I think we will see an increase in filings,’ he said. ‘Bankruptcy (filings) are a trailing indicator, so they will increase even as the economy improves.’
The economic downturn was so severe that many companies were wiped out before they could even get to a workout specialist, Winthrop added. ‘Normally, we can help them through the downturn, and they are able to survive. But this is a singular event in my career, and I’ve been doing this for 30 years.’””
While most of the changes under the new bankruptcy laws are aimed at those looking to discharge their debts under Chapter 7 Bankruptcy, there is some changes to the technique of filing Chapter 13 Bankruptcy as well.