Every Columbus Bankruptcy Attorney Seeing Surge in Business

Almost every bankruptcy attorney in Columbus reports that their business is up over last year, and they expect next year to be even busier.  Each day brings some new announcement with the consequences being either plants shutting down or businesses closing.  Each wave of tough news brings a longer waiting list to the typical Columbus bankruptcy attorney.  The waiting rooms are filled with survivors of the economic tsunami that has struck the nation and the region.

Many individuals waiting in the attorneys’ lobbies are really not prepared to be there. Their finances have taken one hit after another and have brought them to the absolute brink of economic disaster.  Their phones ring day and night with creditors wanting to be repaid, their credit-worthiness is destroyed and they have often suffered emotional  and personal problems, perhaps even the break up of their marriage.  Sometimes there are even health problems due to the stress.

Some had to scramble to find an attorney.  Most people are not prepared to deal with financial disaster.  It is not that they did not see it coming, but thought that the problems facing them would somehow abate.  Unfortunately, these problems usually do not take care of themselves.

Once an attorney is retained then an individual can work to reorganize their finances. The attorney may advise to file Chapter 7 and liquidate all but exempt assets or the advice may be to file Chapter 13 reorganization and set up a schedule to repay creditors.
In some cases the lawyer may advise no formal filing at all, but to work with creditors outside the court and repay their debts.

The region’s economy is under severe strain, and it does not show any great improvement in the near future. Each bankruptcy lawyer in Columbus is working client by client to help get the economy back on a stable footing.