Bankruptcy filings up in Orange County

Bankruptcy fillings for residents and businesses of Orange County are up in the month of January. In fact, according to data from U. S. Bankruptcy Court Central District of California it number of filings hit a decade high.


January's filings (1,269) while the filings for January 2008 were 800. Now, this is truly a record because this is the highest number of filings in a single month since the changes in the federal bankruptcy laws. When the laws changed it made it more difficult to discharge all debts in bankruptcy court.



I see this as a continuation of the problems started with the housing bubble and the recession and loss of jobs. The local unemployment rate at 9.8 percent.



This is not a good piece of information and my show that locally we are not coming out of the recession.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

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Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!