There have been more bankruptcy filings in 2023 than there were in 2022 on a month over month basis.
The year got off to a slow start with filings rising only rising only 0.7% in January 2023 compared to January 2022, and 4.6% in February. But as the year progressed, the number of filings has increased substantially.
Bankruptcy filings were up 32.6% in May and July from the prior year, and more than 20% in June, August and September. Check out the interactive bankruptcy filing statistics for 2023 on the Central District of California Bankruptcy Court's website.
It is no surprise that people in Los Angeles are filing bankruptcy more these days. With the rise in interest rates, and inflation raising the cost of hosing, fuel, utilities, insurance, and just about everything else, more people in Los Angeles are filing Chapter 7 and Chapter 13 Bankruptcy to get out of debt.
If you are considering filing for bankruptcy in Los Angeles, contact the Law Office of David P. Farrell today for a free no obligation consultation (562) 479-0939.
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