Bankruptcy filings in Nevada were lower in November (2,118) than they were in October (2,789) according to the Bankruptcy Court in Nevada. That’s the lowest the numbers have been since February 2009 (1,674).
Good news for Nevada’s economy and for Las Vegas residents?
Perhaps in the short term. But not necessarily for the year to come in Nevada, the state with the highest rate of bankruptcy filings per person this year. Especially when you take into account that people tend to save money leading up to the holidays and incur more debt on gifts, travel, etc. for the holidays.
So stay tuned for Nevada bankruptcy filings for December and January. If those continue to decrease, then that may bode well for the Las Vegas and the Nevada economies. However, with unemployment rates continuing to soar and many adjustable rate mortgages (ARMs) set due to re-set in the coming months, odds are that the bankruptcy filing numbers will hold steady if not increase in the coming months.
If you’re worried about personal bankruptcy Las Vegas and seeking helpful Las Vegas bankruptcy information, let us help you figure out your options.
Freedom Law Firm has been at the center of the bankruptcy and foreclosure crisis in Las Vegas and has been providing Las Vegas bankruptcy help to get residents back on their feet.
Contact us for a free initial consultation to get your questions answered and learn how to get the full benefit of the bankruptcy laws that were created to protect American citizens.