EU Sovereign Debt Crisis Affects Orlando Bankruptcies
In our new modern interconnected world the power of a unique American fiscal and montary policy to influence the direction of our local economy here in Orlando and the rest of Florida becomes ever more tenuous. With Wall Street now increasingly nervous about the financial state of European countries first and foremost, but also the debt situation here at home in America, it may be some time before the massive unemployment being experienced in the central Florida area is put under control.
While it is true that bankruptcy filings were slower in the first half of the year here in Orlando, it is possible these filings may increase as a new wave of decline in home values, or at best a longer than anticipated time before home prices begin to increase again, makes it increasingly untenable for people to remain in their homes or pay exhorbitant principal and interest payments on mortgages that are twice the actual value of their homes.
Great Depression may still be seen by many as an alarmist phrase with regard to the current situation, but there can be no doubt that there is the most serious financial crisis since the Great Depression of the 1930's. We wish all of our fellow Orlando and Florida citizens sound financial health. If you are experiencing a financial crisis in your personal life right now, similar to what is being experienced by so many of these large countries, please come to us and consult with a lawyer. Sometimes bankrutpcy is the answer, and sometimes it is not. But what is clear is that there is usually something that can be done to solve your problem, or at least alleviate it- wheter it is bankruptcy or not.
The Bartlett Law Firm doesn't just file bankruptcies. Besides litigating and practicing many other areas of law besides bankruptcy, we also settle debts with your creditors, attempt to assist you in repairing your credit where possible, and put you on a sound path back to financial fitness through proper counseling and advice.
