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It's no wonder that so many hard working citizens have found themselves in the midst of a financial nightmare and are in need of a consultation with an experienced bankruptcy attorney. Everywhere you look, there are employment layoffs, banks going bust, businesses closing shop and foreclosures at an all time record high. Insolvency used to be a rare exception as a course of action, but the rules of the game have changed. Today's economy has forced a record number of citizens to have no choice but to file for bankruptcy. The employment picture doesn't seem to be improving, either. The most recent statistics show that more than 15 million Americans are unable to find jobs. The unemployment rate is rising at more than 10%, which is the worst rate since the early 1980's. Employers are still reluctant to hire new employees as they struggle to regain their footing in the current conditions. Stores and restaurants that have been around long enough to become household names are either closing down shops or locking their doors completely. Even the ones that remain open have relatively empty parking lots and low profit margins. Warnings have been sent out over the internet to consumers to spend their giftcards before dying establishments shut down. Big name banks as well as smaller banks have gone belly up, needing to be bailed out by the government and taxpayers. The bank's bad health is hinged to the faulty mortgages they bestowed upon many who are now in foreclosure. It's no wonder that the average citizen has found themselves needing the advice and services of a insolvency attorney. Trends which have resulted due to the current epidemic of financial upheaval include a 43% increase in insolvency filings by the end of 2008. That translates into nearly one and a half million personal suits filed last year. Who is the typical citizen who files for bankruptcy? The average age is thirty-eight years old; the majority of them have lost their job; half have suffered a severe health problem. The majority of suits have been filed by couples, followed by single women and then single men. The states with the highest filings are Tennessee, Georgia, Utah and Alabama. Financial problems in businesses spread to individuals in the form of job loss and decreased earnings of their workers. Financial problems in individuals spread back to businesses, also, because of decreased consumer spending and a decline in their ability to keep up with payments. If you find yourself in a financial situation with no apparent way out, it would be wise to seek the counsel of a reputable bankruptcy attorney. He or she can help you find your way out again. With chapter 7 bankruptcy attorney, Warrenton VA experts can help you file for bankruptcy and protect you from creditor harassment. They know of methods that help you get your life back on track and start afresh. To know more, visit http://www.bankruptcyattorneyinva.com
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