Washington State and The State of Bankruptcy
There were 15,168 bankruptcy filings in Washington State in 2007. In 2008, there were 21,452. With the year almost at an end in 2009, there have been 23,040. Last year, Washington ranked 12th in the nation in bankruptcies. That figure was up from 27th the year before.
In 2005, filings peaked nearly 47,000. Last year filings in Washington fell, certainly not because the economy was so great and people were doing so well, but largely due to the change in law in 2005. Many people believed they couldn’t file bankruptcy anymore after George Bush signed the new laws into effect. Speaking of that if you need a leading Washington Bankruptcy lawyer then I want to suggest this resource. A very good such lawyer indeed.
Newsweek’s conservative columnist, Jane Bryant Quinn, wrote an article published last Jan. 3, 2009, titled, The Case For Walking Away. Quinn wrote, “Normally I’d say suck it up, cut spending and repay your debt. But not if you’re going broke.”
Jane Bryant Quinn says we’re supposed to sit down and organize our personal finances in January. She says, “I’ll risk my good-girl reputation with a subversive idea: go bankrupt in 2009. If you’re reaching the end of your rope, don’t try to hold on. Save what you can.”
You’re so right Jane, when you talk about bankruptcy being painful and humiliating even to contemplate. And it takes a long time to recover from financially—and if you have a conscience and a sense of personal responsibility—even longer to recover from psychologically. Just make sure to get a good lawyer if necessary.