Panama City Debt Consolidation Lawyers Point to Rise in Bankruptcy Filings
Panama City, Florida — Panama City bankruptcy attorneys Martin Lewis and Steven Jurnovoy are committed to helping clients in difficult financial circumstances navigate the bankruptcy process as quickly and comfortably as possible. Lewis & Jurnovoy keep tabs on major bankruptcy changes and patterns in the United States in order to work more efficiently, as well as informing their community of potential changes. Although still weaker than in 2021, the number of bankruptcy filings in the United States has increased this year.
After rising slightly from January to February, bankruptcy filings rose sharply from February to March, according to Epiq, a legal research organization. In fact, commercial deposits increased 26% and consumer deposits increased 34% from February to March. Despite this substantial month-over-month spike, bankruptcy filings declined from year-ago levels. In terms of new deposits, the first quarter of 2022 compared to the corresponding period in 2021 showed a decline of 17%.
Another factor in the increase in deposits last month could be that organizations and individuals were forced to seek debt relief after some government COVID relief programs ended. “Amid rising interest rates, growing inflation concerns, labor shortages and supply chain challenges, access to bankruptcy is imperative for consumers and struggling businesses,” said American Bankruptcy Institute executive director Amy Quackenboss.
Lewis and Jurnovoy’s experienced bankruptcy attorneys work diligently to identify the best possible financial solutions for every client who walks through their doors. The company specializes in debt consolidation and bankruptcy assistance and offers free consultations to its clients. For more details on debt relief or filing for bankruptcy in Panama City or nearby communities, call the Lewis and Jurnovoy office at (850) 913-9110 or visit them online anytime at www.LewisandJurnovoy.com.
For more information about Lewis & Jurnovoy, PA – PCB, contact the company here:
Lewis & Jurnovoy, Pennsylvania – PCB
2714 West 15th Street
Panama City, Florida 32401