Bay Area sees boom in bankruptcies

Discussion in 'Economy' started by Neubarth, Jan 12, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Bay Area sees boom in bankruptcies
    By Pete Carey and Eve Mitchell
    Bay Area News Group


    Personal and small-business bankruptcy filings are soaring in the Bay Area as more people lose their jobs and homes and as the profile of those facing bankruptcy extends deeper into the middle class.

    In the Oakland division of U.S. Bankruptcy Court's California Northern section, which covers Contra Costa and Alameda counties, filings increased 59 percent — from 7,887 in 2008 to 12,564 in 2009. In the San Francisco division, which includes San Francisco and San Mateo counties, filings increased 62 percent — from 2,579 in 2008 to 4,190 in 2009.

    In San Joaquin County, which is in the court's California Eastern section, filings increased 62 percent — from 2,445 for January through October 2008 to 3,962 for January through October 2009.

    Long-term practitioners of bankruptcy law have never been so busy.

    "I've been doing this for 35 years and it's never been this bad for the people," said Max Cline, an Oakland bankruptcy attorney who a year ago had to hire a third attorney for the office...

    Bay Area sees boom in bankruptcies - ContraCostaTimes.com
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    The above article is definitely NOT indicative of a recovery. With millions of people losing their jobs every month, there will be a lot more bankruptcies and robberies and murders. I believe it was Celente who said, "When people lose it all, THEY LOSE IT." That time is coming soon.
     

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