Generally speaking, significantly declining bankruptcy numbers indicate a national economy trending toward recovery. Still, the number of filers is not low. According to this article, over 900,000 bankruptcies have been filed so far in 2015. As a local bankruptcy attorney, I am familiar with the fact that the bulk of these are Chapter 7s. In other words, there remains millions of Americans struggling with low income and/or high debt. Folks are generally reluctant to file bankruptcy until pushed to it by creditors (i.e., via lawsuits, the threat of lawsuits, or harassing debt collections practices) or after a thorough examination of their individual finances. The good news is that bankruptcy presents a real option to get out of debt and get a fresh start. Typically, only student loans, taxes, and criminally-incurred debts survive the bankruptcy. Cars and homes (in Pennsylvania, as a judicial foreclosure state) can be surrendered in bankruptcy without consequence and medical and credit card bills remain as dischargeable as ever. Call King Law Center today at 610-350-6100 and we’ll be happy to discuss your options.